Bicycle Therapeutics draws on Sir Gregory Winter’s Nobel-winning research to develop ‘bicycle’ molecules: fully synthetic short peptides constrained with small-molecule scaffolds that form two loops to stabilize their geometry and penetrate solid tumours. The company is developing these precision-guided therapeutics across multiple high-value cancer programs and an earlier discovery pipeline, and has partnered with other research and therapeutics organizations to broaden application to different tumours. Bicycle is headquartered in Cambridge, UK, with many key functions and leadership team members located in Cambridge, Mass. The company completed a $555M equity financing via a private placement that includes participation from new and existing investors. That financing strengthens its balance sheet to a pro forma cash position of approximately $1B and extends its expected financial runway into the second half of 2027. Management says the proceeds will support progress across multiple programs and discovery-stage work, with multiple catalysts expected in the second half of 2024. Bicycle Therapeutics is a Cambridge, UK–based biotechnology company pioneering a new class of therapeutics based on its proprietary bicyclic peptide (Bicycle®) product platform. The company develops chemically synthesized medicines intended to address therapeutic needs unreachable with existing treatment modalities. Its internal focus is oncology, where Bicycle is developing targeted cytotoxics (Bicycle Toxin Conjugates), targeted innate immune activators, and T‑cell modulators for cancers of high unmet medical need. Led by CEO Kevin Lee, Ph.D., the company is also applying its platform to other areas. Bicycle was awarded a grant from Innovate UK to develop the next generation of novel antibiotics. The grant will support development of its antibiotic programs alongside its ongoing oncology pipeline. Bicycle Therapeutics builds drugs from its proprietary bicyclic peptide (Bicycle®) platform, which combines antibody-like affinity, small-molecule distribution kinetics for rapid tumor penetration, and tuneable peptide pharmacokinetics with renal clearance. Its lead program, BT1718, is a first-in-class Bicycle Drug Conjugate® targeting MT1‑MMP and is intended to deliver toxic payloads selectively to tumors. BT1718 was expected to enter the clinic in 2017 in partnership with Cancer Research UK. The company intends to use the Series B proceeds to advance multiple drug candidates and fund additional pipeline programs through early clinical development, with the first additional program to be selected in the second half of 2017. Bicycle highlights collaborations and a pipeline that includes toxin drug conjugates and immune modulators for oncology and other diseases. The company is headquartered in Cambridge, U.K., with a U.S. subsidiary in Cambridge, Massachusetts. The Series B financing provides new capital to move BT1718 rapidly toward the clinic and advance preclinical programs. Bicycle Therapeutics is a Cambridge, UK-based biotech focused on developing bicyclic peptides. The company has a proprietary bicyclic peptide–based technology that enables discovery of a new class of drug candidates with antibody-like affinity and selectivity in smaller, chemically synthesized molecules. It applies the platform across oncology, respiratory, inflammatory and ophthalmology programs as agonists, antagonists or for delivering payloads. Management is led by CEO Rolf Günther and Chairman Andrew Sandham. The company raised $32M to fund clinical development of therapeutic bicycle drug candidates in oncology. Bicycle intends to leverage pharma partnerships to advance its oncology programs; its first partnership with ThromboGenics targets an ophthalmology indication including diabetic macular edema. Bicycle Therapeutics develops a proprietary bicyclic peptide technology platform that generates peptide therapeutics with antibody-like selectivity and specificity and manufacturing economics similar to new chemical entities. The company is applying the platform to drug discovery in oncology, metabolic and inflammatory diseases and plans to make the platform accessible for collaborative discovery with pharma partners. Bicycle has transitioned from technology development to active drug discovery, expanding efforts across multiple drug target classes using its bicyclic peptide libraries, high-throughput screening and lead optimisation capabilities. The company is based at the Babraham Research Campus in Cambridge and was co-founded by Sir Gregory Winter and Professor Christian Heinis; its leadership includes CEO Rolf Günther and CSO Dr. John Tite. Financially, Bicycle secured a tranched equity financing to support selection and progression of drug candidates.

Total raised

$645M

Funding rounds

7

Latest round

Equity

Latest activity

May 2024