Funding cycles

After five years of drip feeding Bicycle Therapeutics Ltd., the investor syndicate has installed new CEO Kevin Lee into a company that's fully funded to advance programs into the clinic. The VCs think the measured funding approach was warranted because it did not want to put significant money to work on what could have amounted to a science project.

In 2009, Bicycle spun out of the Medical Research Council Laboratory of Molecular Biology to determine whether the diversity of antibodies could be recreated with small peptides...