Date: 2012-12-10
Type of information: Fundraising
Company: Bicycle Therapeutics (UK)
Investors: Atlas Venture (USA) Novartis Venture Fund (Switzerland) SR One (UK) SV Life Sciences (UK - USA) Astellas Venture Management (Japan)
Amount: £3.75 million (€ 4.6 million)
Funding type: equity financing
Planned used: The funds will be used to invest in selection of drug candidates using its bicyclic peptide technology platform.
Others: Bicycle Therapeutics, a next generation biotherapeutics company co-founded by Sir Gregory Winter and Professor Christian Heinis, had secured a tranched equity financing of £3.75 million to invest in selection of drug candidates using its bicyclic peptide technology platform. Bicycle has developed a proprietary bicyclic peptide technology that enables the discovery of a new class of drug candidates with antibody-like selectivity and specificity that can be manufactured with economics similar to new chemical entities. The company is applying the technology to drug discovery projects in oncology, metabolic and inflammatory diseases and will also make the platform accessible for collaborative discovery with pharma partners. Rolf Günther, CEO, said, “This financing marks our transition from technology development to drug discovery, using our bicyclic peptide libraries, high throughput screening and lead optimisation technology. We are now expanding our discovery efforts to address multiple drug target classes.“
Therapeutic area:
