Bicycle Therapeutics Announces Leadership Transitions for Next Phase of Innovation Across Oncology Pipeline

Travis Thompson appointed chief financial officer; to succeed Alethia Young

Michael Method, M.D., MPH, MBA promoted to chief medical officer; to succeed Eric Westin, M.D.

Michael Skynner, Ph.D., chief technology officer, transitioning to chief scientific officer

CAMBRIDGE, England & BOSTON–(BUSINESS WIRE)–Bicycle Therapeutics plc (NASDAQ: BCYC), a pharmaceutical company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide (Bicycle^®) technology, today announced leadership transitions for its next phase of innovation.

• Travis Thompson, who began at Bicycle in April 2018 and most recently served as Bicycle’s senior vice president and chief accounting officer and previously spent his career at EY in its life sciences practice supporting a broad range of companies of all sizes and stages of development, has been appointed as Bicycle’s chief financial officer (CFO). In this role, Mr. Thompson will continue to oversee finance and accounting functions, and now investor relations. Alethia Young, who has stepped down as CFO, will remain with Bicycle in an interim capacity for three months. Thereafter, Alethia will continue as a company advisor.
• Michael Method, M.D., MPH, MBA, who began at Bicycle in June 2025 and most recently served as Bicycle’s senior vice president, clinical development, has been promoted to chief medical officer (CMO), overseeing all clinical development and the relationship with Bicycle’s Clinical Advisory Board. Dr. Method is an academic and clinical oncologist with extensive drug development experience at many oncology companies, including ImmunoGen and Eli Lilly. Eric Westin, M.D., who has retired from his role as CMO, will continue with Bicycle as a distinguished fellow.
• Michael Skynner, who began at Bicycle in January 2016 and most recently served as Bicycle’s chief technology officer, will now serve as chief scientific officer. Dr. Skynner will oversee scientific discovery, early-stage pipeline development and the relationship with Bicycle’s Research and Innovation Advisory Board.

“Bicycle made significant progress in 2025 and looks forward to achieving its 2026 priorities. We believe our evolved leadership team, in collaboration with our expert board of directors and advisors, positions us to build momentum across our innovative pipeline and create shareholder value,” said Bicycle Therapeutics CEO Kevin Lee, Ph.D. “On behalf of our board of directors and team, I want to thank Alethia and Eric for helping the company obtain a strong financial position and advance our clinical trials. As we look to the future, we are excited to progress our targeted oncology clinical programs that include our new radiopharmaceutical strategic partnerships. With strengthened operational capacity and financial runway expected into 2028, I am pleased to have Travis, Michael and Michael step into their new roles after successful tenures at Bicycle. Together, with the rest of our leadership team, talented employees and board of directors, we believe we can realize our goal to help patients live longer and live well.”

About Bicycle Therapeutics

Bicycle Therapeutics is a clinical-stage pharmaceutical company developing a novel class of medicines, referred to as Bicycle^® molecules, for diseases that are underserved by existing therapeutics. Bicycle molecules 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 Bicycle molecules attractive candidates for drug development. The company is evaluating zelenectide pevedotin (formerly BT8009), a Bicycle^® Drug Conjugate (BDC^®) targeting Nectin-4, a well-validated tumor antigen; BT5528, a BDC molecule targeting EphA2, a historically undruggable target; and BT7480, a Bicycle Tumor-Targeted Immune Cell Agonist^® (Bicycle TICA^®) targeting Nectin-4 and agonizing CD137, in company-sponsored clinical trials. Additionally, the company is developing Bicycle^® Radioconjugates (BRC^®) for radiopharmaceutical use and, through various partnerships, is exploring the use of Bicycle^® technology to develop therapies for diseases beyond oncology.

Bicycle Therapeutics is headquartered in Cambridge, UK, with many key functions and members of its leadership team located in Cambridge, Mass. 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 progress across its pipeline, upcoming milestones, and execution of its strategy; Bicycle’s ability to build momentum across its innovative pipeline and create shareholder value; Bicycle’s expected financial runway; and the use of Bicycle’s technology through various partnerships to develop therapies for diseases beyond oncology. 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 plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including: uncertainties inherent in research and development and in the initiation, progress and completion of clinical trials and clinical development of Bicycle’s product candidates; the risk that Bicycle may not realize the intended benefits of its technology or partnerships; the risk that Bicycle Therapeutics may not achieve any of its clinical development strategies; timing of results from clinical trials; whether the outcomes of preclinical studies and prior clinical trials will be predictive of future clinical trial results; the risk that trials may have unsatisfactory outcomes; potential adverse effects arising from the testing or use of Bicycle’s product candidates; the risk that Bicycle’s projections regarding its expected cash runway are inaccurate or that its conduct of its business requires more cash than anticipated; and other important factors, any of which could cause Bicycle’s actual results to differ from those contained in the forward-looking statements, are described in greater detail in the section entitled “Risk Factors” in Bicycle’s Annual Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on October 30, 2025, 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.

Contacts

Investors:
Matthew DeYoung

Argot Partners

[email protected]
212-600-1902

Media:
Deborah Elson

Argot Partners

[email protected]