$555 million richer Bicycle gearing up for bigger things

23 May 2024

Anglo-American pharma Bicycle Therapeutics (Nasdaq: BCYC) was trading 20% higher early on Thursday.

The company, which is developing a new and differentiated class of therapeutics based on its proprietary bicyclic peptide Bicycle technology, has announced a $555 million private placement equity (PIPE) financing supported by existing and new investors.

"This financing will support our progress across multiple high-value programs and earlier discovery pipeline"This financing was led by a USA-based healthcare focused investor with participation from Deep Track Capital, EcoR1 Capital, Fairmount, Forbion, Perceptive Advisors and RA Capital Management.

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