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Finance Watch: Bicycle Spins Toward Clinic With $52m Round; Stock Spikes Spur Offerings

 
• By Mandy Jackson

Bicycle closes a $52m Series B to test its bicyclic peptides in humans, while Decipera, Harpoon and TP Therapeutics also top a $263m list of recent venture capital deals. In public company financings, Alnylam, Aerie and others price offerings to raise cash while their stocks are on the rise.

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Bicycle Therapeutics Ltd. raised a $52m Series B venture capital round to take the first drug candidates from its bicyclic peptide platform into the clinic, starting later this year.

CEO Kevin Lee said he has been working since he joined the company in 2015 to take Bicycle to "the next level" – identifying the clinical development strategy, including the first assets to take into human trials, and making sure that manufacturing capabilities were in place to support those studies. (Also see "Why Kevin Lee Left Pfizer To Push Bicycles" - Scrip, 21 September, 2015

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