Bicycle’s $555M placement; Tango Therapeutics scraps cancer program

Plus, news about Sanofi, XGEN Ven­tures, Owkin and Idor­sia:

Bi­cy­cle Ther­a­peu­tics to raise $555M in one of the biggest PIPEs of the year: The com­pa­ny’s stock $BCYC was up 20% on Thurs­day morn­ing af­ter it an­nounced the stock sale to health­care in­vestors, which in­clud­ed Deep Track Cap­i­tal, EcoR1 Cap­i­tal, Fair­mount Cap­i­tal, For­bion, Per­cep­tive Ad­vi­sors and RA Cap­i­tal Man­age­ment. Bi­cy­cle is set to present two posters at the up­com­ing AS­CO meet­ing, which is the biggest can­cer con­fer­ence of the year. Ab­stracts are set to drop on Thurs­day evening. Bi­cy­cle de­clined to com­ment on whether the in­vestors saw its AS­CO da­ta. — Lei Lei Wu

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