Atlas et al. invest £20m in Bicycle Therapeutics

Corporate healthcare venture funds Novartis Venture Fund, Astellas Venture Management and SR One, the healthcare venture fund of GlaxoSmithKline, took part in the round.

Bicycle will put the capital towards the clinical development of its therapeutic bicyclic peptide (bicycles) drug candidates for the field of oncology.

Previous funding
According to unquote" data, this latest round is the fourth raised by Bicycle. In October 2009, Atlas and Novartis invested seed funding in the company, marking Bicycle's first institutional funding round.

In December of the same year, SR One and SV Life Sciences injected further seed funding into the business, with the latter providing capital via its $523m SV Life Sciences Fund V.

In December 2012, the four existing investors were joined by new lead backer Astellas in a £3.75m round.

Company
Founded in 2009 as a spinout from the Medical Research Council Laboratory of Molecular Biology in Cambridge, Bicycle develops bicyclic peptides, a class of peptide molecules that are similar to antibodies but smaller in size and can be chemically synthesised.

Bicycle is currently developing these peptides as a therapeutic treatment for oncology and ophthalmology.

People
Rolf Günther is the CEO of Bicycle. SV Life Sciences managing partner Kate Bingham sits on the company's board of directors alongside Atlas partner Bruce Booth, SR One partner Deborah Harland and Novartis managing director Anja König.

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• Topics
• UK / Ireland
• Healthcare
• Early-stage
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• Atlas Venture