Bicycle Therapeutics Announces Updated Preclinical Data on SARS-CoV-2 Antivirals at the 2022 Microbiology Society Annual Meeting

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 announced updated preclinical results providing further evidence for Bicycles as a potential novel antiviral modality against SARS-CoV-2. The results will be presented in an oral presentation today at the 2022 Microbiology Society Annual Meeting in Dublin, Ireland.

“These data provide further evidence of the bicycle platform’s ability to successfully identify agents that bind to a broad range of target classes,” said Michael Skynner, Ph.D., Chief Technology Officer of Bicycle Therapeutics. “We are encouraged by the preclinical data and believe that Bicycles could have significant advantages as novel small molecule antivirals to combat viruses such as SARS-CoV-2. We thank InnovateUK for funding this work and look forward to continuing to explore how these agents may be used as anti-viral therapeutics.”

Bicycle identified numerous discrete families of Bicycles binding to 12 unique epitopes across all domains of the SARS-CoV-2 spike protein. These Bicycles were rapidly identified and conjugated together, creating a wide range of multi-valent and bi-paratopic molecules. Bicycles targeting different epitopes on the spike protein were combined into one molecule. These small (<10kDa) molecules were tested in partnership with researchers at the Medical Research Council Laboratory of Molecular Biology and shown to be highly active in vitro, in the sub-nanomolar range, at preventing SARS-CoV-2 infection of human cells. These compounds were further tested in partnership with experts at the University of Liverpool and shown to be highly potent when administered in vivo to rodent models of SARS-CoV-2 infection. In addition, these molecules have also been shown to be active in vitro across many of the SARS-CoV-2 variant strains, including Alpha, Beta, Delta and the current circulating strain Omicron.

About Bicycle Therapeutics

Bicycle Therapeutics (NASDAQ: BCYC) is a clinical-stage biopharmaceutical company developing a novel class of medicines, referred to as Bicycles, for diseases that are underserved by existing therapeutics. Bicycles are fully synthetic short peptides constrained with small molecule scaffolds to form two loops that stabilize their structural geometry. This constraint facilitates target binding with high affinity and selectivity, making Bicycles attractive candidates for drug development. Bicycle is evaluating BT5528, a second-generation Bicycle Toxin Conjugate (BTC™) targeting EphA2; BT8009, a second-generation BTC targeting Nectin-4, a well-validated tumor antigen; and BT7480, a Bicycle TICA™ targeting Nectin-4 and agonizing CD137, in company-sponsored Phase I/II trials. In addition, BT1718, a BTC that targets MT1-MMP, is being investigated in an ongoing Phase I/IIa clinical trial sponsored by the Cancer Research UK Centre for Drug Development. Bicycle is headquartered in Cambridge, UK, with many key functions and members of its leadership team located in Lexington, MA. For more information, visit bicycletherapeutics.com.

Forward Looking Statements

This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding Bicycle’s anticipated advancement of research and development of anti-viral Bicycles, and participation in the 2022 Microbiology Society Annual Meeting. Bicycle may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the intentions and expectations disclosed in these forward-looking statements as a result of various factors, including: Bicycle’s abilities to meet other anticipated deadlines presented by the ongoing COVID-19 pandemic; the risk that Bicycle may not realize the intended benefits of its technology ; whether the outcomes of preclinical studies will be predictive of clinical trial results; and other important factors, any of which could cause Bicycle’s actual results to differ from those contained in the forward-looking statements, and which are described in greater detail in the section entitled “Risk Factors” in Bicycle’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 1, 2022, as well as in other filings Bicycle may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and Bicycle expressly disclaims any obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

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