Bicycle Therapeutics Expects to Raise $60.6 Million in IPO

Bicycle Therapeutics announced the pricing of its initial public offering (IPO), offering 4,333,333 shares at an IPO price of $14 per share. The company expects to raise about $60.6 million. It is trading on the Nasdaq under the BCYC ticker symbol.The company focuses on developing a novel class of drugs called Bicycles. Bicycles are fully synthetic short peptides constrained to form two loops—hence “bi” cycles—that stabilize their structural geometry.The company was founded in 2009 based on science coming out of the laboratory of Sir Greg Winter, winner of the Nobel Prize in Chemistry in 2018 for his work in phage display. Phages are viruses that infect bacteria. The company is co-headquartered in Lexington, Mass. and Cambridge, UK.