01.06.2017 • NewsElaine Burridgecancer drugDevelopment

Bicycle Gains Funds for Cancer Drug Trials

(c) Science Photo Library RF/Getty Images
(c) Science Photo Library RF/Getty Images

UK biotech Bicycle Therapeutics has raised £40 million from a Series B financing round to advance the development of multiple candidate drugs to treat cancers with a high unmet need.

Lead candidate BT1718 is the first example of the company’s Bicycle Drug Conjugate (BDC) technology in which toxic chemical payloads are specifically targeted at malignant tumors. BT1718 targets Membrane Type 1 Matrix Metalloproteinase (MT1-MTP), which is highly expressed in many solid tumors, including triple negative breast cancer and non-small cell lung cancer. The drug is expected to enter the clinic this year in partnership with Cancer Research UK.

The money will also fund additional pipeline programs through early clinical development, the first of which will be selected in the second half of 2017, Bicycle Therapeutics said.

“This financing represents an important validation of our approach, while providing Bicycle with the resources to continue to advance our pipeline and translate our bicyclic peptide technology into important new treatment options for patients,” said Kevin Lee, Bicycle’s CEO.

Last December, the biotech firm signed a deal potentially worth $1 billion with AstraZeneca to develop bicyclic peptides - or bicycles - for treating respiratory, cardiovascular and metabolic diseases. Bicycle will identify candidates for an undisclosed number of targets specified by AstraZeneca, which will undertake further development and commercialization.

Free Expert Insights

Dual‑Targeting Breakthroughs
Advancements in Bispecific Antibody Development

Dual‑Targeting Breakthroughs

Unlock the latest breakthroughs in bispecific antibody development! Download Wiley’s free Expert Insights eBook to explore cutting-edge dual-targeting strategies, advanced purification methods, and bioanalytical technologies transforming immunotherapy and cancer treatment.

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

most read

Photo
28.07.2025 • NewsChemistry

VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.