Biotherapeutics company Bicycle Therapeutics has raised $32m in a series B round featuring pharmaceutical companies GlaxoSmithKline, Novartis and Astellas.
UK-based biotherapeutics company Bicycle Therapeutics secured £20m ($32m) on Tuesday in a series B round which included the corporate venturing units of pharmaceutical companies Astellas, Novartis and GlaxoSmithKline.
Astellas Venture Management, SR One, which represents GlaxoSmithKline, and Novartis Venture Fund invested alongside venture capital firms Atlas Ventures and SV Life Sciences.
Bicycle focuses on developing bicyclic peptides to treat tumour-specific targets, and will use the funds to advance therapeutic candidates for cancer treatment.
Andrew Sandham, chairman of Bicycle, said: “This…
