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Bicycle Therapeutics secures £40M in financing

Bicycle Therapeutics secured £40 million in a series B financing led by Vertex Ventures HC.

Other participants include new investors Cambridge Innovation Capital and Longwood Fund, as well as existing investors Novartis Venture Fund, SROne, SVLS and Atlas Venture.

The company said it will use proceeds to further develop its lead molecule BT1718, which targets malignant tumors.

Additionally, the financing will help advance Bicycle Therapeutics' preclinical programs, which include toxin drug conjugates and immune modulators.