Oct. 7 Quick Takes: Early POC data for Bicycle buoys shares

Bicycle Therapeutics plc (NASDAQ:BCYC) reported early proof-of-concept data for two of its most advanced bicyclic peptide programs, building validation for its platform but raising concerns over toxicity. The company said BT5528, a bicycle-toxin conjugate (BTC) targeting EphH2 — a target all but abandoned for traditional therapeutic modalities — led to a partial response in both urothelial cancer patients treated and in one of five ovarian cancer patients treated in a Phase I study. However, the BTC led to two grade 5 adverse events: tumor lysis syndrome and renal failure caused by GI-related dehydration. The company also reported that BT8009, a BTC targeting Nectin-4, led to an ORR of 36% in a Phase I trial, with four of 11 urothelial cancer patients achieving a partial response. Bicycle gained 17% to $48.69 on Thursday after presenting the data at the AACR-NCI-EORTC meeting.

RA Capital’s newest private capital fund, the $880 million Nexus III, will have more than 90% more cash to invest than the firm’s 2020-vintage, $461 million Nexus II, and almost three times as much as 2019’s original $300 million Nexus fund. The firm invests from the Nexus vehicle alongside deals from its evergreen crossover fund. RA said the private funds allow it to take bigger positions in “high-conviction” investments, and enables it to invest more in private companies during volatile times in the public markets...