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Bicycle Therapeutics Ltd. (developing peptide drugs) raised £20mm ($32mm) in Series A funding from returning shareholders Atlas Venture, Novartis Venture Fund, SR One, SV Life Sciences, and Astellas Venture Management. The proceeds will support ongoing development of bicycle drug conjugates (BDCs) for oncology indications. It hopes to bring two compounds to clinical proof-of-concept by 2017 and up to four more BDCs to preclinical proof-of-concept.
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