Oncology biotech Bicycle Therapeutics sets terms for $65 million US IPO

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Bicycle Therapeutics, a Phase 1 biotech developing novel oncology medicines based on bicyclic peptides, announced terms for its IPO on Monday.

The Cambridge, United Kingdom-based company plans to raise $65 million by offering 4.3 million ADSs at a price range of $14 to $16. Insiders intend to purchase $25 million worth of shares in the offering (38% of the deal). At the midpoint of the proposed range, Bicycle Therapeutics would command a fully diluted market value of $278 million.

Bicycle Therapeutics was founded in 2009 and booked $11 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol BCYC. Goldman Sachs, Jefferies and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of May 20, 2019.

The article Oncology biotech Bicycle Therapeutics sets terms for $65 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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