Bicycle Therapeutics plc

Bicycle Therapeutics plc is a clinical-stage biopharmaceutical company focused on developing a novel class of precision-guided medicines, known as Bicycle® molecules, to address diseases currently underserved by existing therapeutics. The company's core mission is to become a leading entity in solid tumor medicines, leveraging its proprietary bicyclic peptide technology. Bicycle Therapeutics operates as a transatlantic company, with its headquarters located in Cambridge, UK, and significant operational presence, including key leadership functions, in Boston/Lexington, Massachusetts, USA.

The company's innovative Bicycle® molecules are fully synthetic short peptides engineered with small molecule scaffolds to form two stable loops. This unique structural constraint is designed to confer high affinity and selectivity, enabling deep tissue penetration and combining the pharmacological advantages of biologics with the synthetic and pharmacokinetic benefits of small molecules. Bicycle Therapeutics primarily targets oncology, particularly solid tumors, and its pipeline includes Bicycle® Drug Conjugates (BDCs), Bicycle® Radioconjugates (BRCs), and Bicycle® Tumor-Targeted Immune Cell Agonists (Bicycle® TICAs). Key product candidates include nuzefatide pevedotin (formerly BT5528), a BDC targeting EphA2, currently in Phase 2 for pancreatic cancer, and zelenectide pevedotin (formerly BT8009), a BDC targeting Nectin-4.

In March 2026, Bicycle Therapeutics initiated a strategic reprioritization to concentrate its resources on its most promising next-generation therapeutics, including nuzefatide and its emerging BRC pipeline. This strategic shift involved discontinuing certain zelenectide trials and an anticipated workforce reduction of approximately 30%. Kevin Lee serves as the Chief Executive Officer, a role he has held since September 2015, with recent leadership changes in February 2026 bringing Travis Thompson as CFO, Michael Method as CMO, and Michael Skynner as CSO. The company reported a net loss of $60.8 million for Q1 2026, with cash and cash equivalents totaling $559.5 million, providing a projected cash runway into 2030. Q1 2026 revenue was $0.887 million, falling short of analyst estimates.