Bicycle Therapeutics funding news – Medtech Startup Bicycle Therapeutics Secures $555Million in Equity Funding

Completely synthetic short peptides, known as bicycle molecules, are restrained by scaffolds of tiny molecules to form two loops that stabilise their structural geometry.

The company has expanded its applications to include a wider variety of cancer types by forming partnerships with several other research and therapies organisations. The executive team of Bicycle Therapeutics is based in Cambridge, Massachusetts, while the company's main office is situated in Cambridge, United Kingdom.

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With participation from both new and current investors, the financing strengthens the company's balance sheet and extends its projected financial runway until the second half of 2027, with a pro forma cash position of roughly $1 billion.

With participation from Deep Track Capital, EcoR1 Capital, Fairmount, Forbion, Perceptive Advisors, and RA Capital Management, the financing was led by an investor with a focus on healthcare in the US.

Kevin Lee, CEO said, “We are excited to announce today’s financing as it underscores the increasing conviction that our investors have in the Bicycle platform and team to create novel precision-guided therapeutics, which we believe have the potential to offer patients a significantly improved quality of life over other treatments,”.

About Bicycle Therapeutics

Bicycle Therapeutics is a biopharmaceutical firm in the clinical stage that is creating a new class of medications called "Bicycles" to treat disorders that are not well treated by current treatments. In order to generate two loops that stabilise their structural geometry, totally synthetic short peptides known as bicycles are bound by scaffolds made of tiny molecules.