ThromboGenics, a biopharmaceutical company focused on developing and commercializing innovative ophthalmic medicines, has entered into a collaboration and license agreement with Bicycle Therapeutics to develop and commercialize novel drugs inhibiting a specific target for the treatment of ophthalmic diseases, such as diabetic macular edema (DME).

DME causes adult vision loss, with a significant proportion of patients failing to respond adequately to existing therapies for this condition.

ThromboGenics intends to develop therapeutics based on Bicycle's bicyclic peptides, which inhibit a target involved in vascular permeability. Selective inhibition of this target represents a new approach that offers the potential to improve the treatment of DME. ThromboGenics and Bicycle will collaborate on the preclinical development of these bicyclic peptide inhibitors.

ThromboGenics will pay Bicycle an undisclosed upfront fee, development and regulatory milestone payments and royalties on sales of products resulting from the collaboration.