Bicycle Therapeutics Limited Announces $6 Million Financing for Drug Discovery
12/10/2012 10:00:31 AM
CAMBRIDGE, England--(BUSINESS WIRE)--Bicycle Therapeutics, a next generation biotherapeutics company co-founded by Sir Gregory Winter and Professor Christian Heinis, today announced that it had secured a tranched equity financing of £3.75 million to invest in selection of drug candidates using its bicyclic peptide technology platform. Current investors, Atlas Venture, Novartis Venture Fund, SR One and SV Life Sciences were joined by new investor Astellas Venture Management, the venture capital arm of Astellas Pharma. 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.