BRIEF—Bicycle gears up for $86 million IPO

Cambridge, UK-based Bicycle Therapeutics has filed a prospectus with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO) priced at around $86 million.

The firm is working on a novel kind of synthetic peptide, dubbed a Bicycle, which it says will allow development of candidates for previously undruggable targets.

Interim Phase I data for the firm’s lead candidate BT1718, a Bicycle Toxin Conjugate under development in oncology, are expected in the latter part of the year.