Cambridge Innovation Capital is in line for an exit as oncology drug developer Bicycle Therapeutics prepares to float, having filed to raise $86m in its IPO.
Bicycle Therapeutics, a UK-based developer of treatments for diseases with a high unmet need that is backed by University of Cambridge’s patient capital fund Cambridge Innovation Capital (CIC), has filed for an $86m initial public offering on the Nasdaq Global Market.
Founded in 2009, Bicycle Therapeutics is developing treatments for conditions with a high unmet need. It is initially focusing on oncology but plans to also target other disease areas, and is collaborating with biopharmaceutical firms in antibacterial, cardiovascular, haematology, ophthalmology and respiratory indications.
Bicycle Therapeutics’ technology is based on research undertaken by Gregory Winter and Christian Heinis at research institute MRC Laboratory of Molecular Biology.
The company will use the proceeds to complete preparations for phase 2 and 3 trials for its lead drug candidate, BT1718, which is aimed at certain types of ovarian, bladder, endometrial and triple negative breast cancer.
The money will also…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
