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bicycle therapeutics Bicycle Therapeutics Reports First Quarter 2021 Financial Results and Provides Corporate Update May 6 , 2021 - BT7480 , the lead Bicycle tumor - targeted immune cell agonist , presented at AACR Annual Meeting 2021 " New Drugs on the Horizon " session ; remains on - track for 2H'21 clinical trial start - Achieved significant recent progress across pipeline of Bicycle® - based therapies beyond oncology - Raised $ 75.0 million through at - the - market offering program ; cash of $ 195.9 million as of March 31 , 2021 expected to provide financial runway through multiple clinical milestones and into 2024 CAMBRIDGE , England , & BOSTON -- ( BUSINESS WIRE ) -- May 6 , 2021-- Bicycle Therapeutics plc ( NASDAQ : BCYC ) , a biotechnology company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide ( Bicycle® ) technology , today reported financial results for the first quarter ended March 31 , 2021 and discussed recent corporate updates . " We've had a great start to 2021 , as we advance multiple Bicycle Toxin ConjugatesⓇ ( BTCs ) in the clinic , prepare for BT7480 , our lead tumor - targeted immune cell agonist , to enter the clinic later this year and continue to expand the use of our platform outside of oncology , while also significantly strengthening our balance sheet , " said Kevin Lee , Ph.D. , Chief Executive Officer of Bicycle Therapeutics . " We plan to build on this momentum during the year , and our presentation of preclinical data at AACR serves to highlight the potential therapeutic benefits that Bicycles may offer toward improving the treatment paradigms for people living with cancer and other serious diseases . " First Quarter 2021 and Recent Highlights • Presented at the American Association for Cancer Research ( AACR ) Annual Meeting 2021. In April 2021 , Bicycle presented new preclinical data describing the discovery of BT7480 , a novel Nectin - 4 / CD137 Bicycle tumor - targeted immune cell agonist ™ ( Bicycle TICA ) during a " New Drugs on the Horizon " session . The Company expects BT7480 to enter the clinic in the second half of 2021. Additionally , the Company presented five posters and one presentation highlighting preclinical data across multiple programs in Bicycle's oncology pipeline . The posters and presentations are available on the Publications section of bicycletherapeutics.com . • Provided Pipeline Progress Update Across Multiple Therapeutic Programs Beyond Oncology . In March 2021 , Bicycle announced progress updates for its Bicycle programs outside of oncology : • Achieved first milestone in the collaboration with Dementia Discovery Fund ( DDF ) and the University of Oxford's Alzheimer's Research UK Oxford Drug Discovery Institute ( ODDI ) : The Company identified and optimized nM affinity Bicycles to transferrin receptor 1 ( TfR1 ) , a molecular shuttle . The three parties are collaborating to identify and characterize Bicycles that bind to and activate TREM2 , a genetically validated dementia target . o Advanced the platform in multiple anti - infective areas , including antimicrobials and antivirals : Innovate UK's Biomedical Catalyst ( BMC ) awarded the Company funding to advance a Bicycle inhibitor for a key cell wall biosynthesis target in Enterobacterales , Penicillin Binding Protein 3 ( PBP3 ) . Bicycle , working with investigators at the University of Warwick , intends to progress these PbP3 inhibitors , potentially the first novel class of antibiotics identified in decades , to candidate and initial toxicology testing . Additionally , under a specific Innovate UK program targeting key technologies to rapidly respond to the challenge of the COVID - 19 pandemic , Bicycle received funding to support its efforts to discover new healthcare solutions to SARS - CoV - 2 . o Made significant progress through partnerships : Bicycle successfully discovered and advanced targets outside of oncology through its ongoing collaboration with AstraZeneca , a global biopharmaceutical company , to discover novel agents for the treatment of respiratory and cardiometabolic diseases . Two assets were transitioned to AstraZeneca's pipeline for further development . Bicycle also identified targets in its collaboration with Bioverativ ( acquired by Sanofi ) for the treatment of rare hematological diseases . The collaborations successfully identified nM multi - valent inhibitors to P - Selectin , which inhibited neutrophil binding and rolling , with potential applications in sickle cell disease and other inflammatory diseases . The Bioverativ collaboration also identified the first small molecule Factor VIII mimetic for the potential treatment of Hemophilia A. Upon termination of the collaboration in 2019 , these " lead stage " assets have been returned to Bicycle .