Bicycle Therapeutics is laying off approximately 25% of its workforce following the termination of its research and development (R&D) partnership with Genentech245.
The company aims to cut operating expenses by around 30% through these layoffs and associated measures25.
The layoffs affect both current and planned roles, primarily impacting early R&D and support functions12.
At the end of 2024, Bicycle had 305 full-time employees split between the UK and the US, with the majority based in the UK15.
The restructuring is expected to extend Bicycle’s financial runway into 2028, compared to the second half of 2027 under previous projections125.
Genentech notified Bicycle in July 2025 of its intention to end the collaboration, effective within the month2.
Bicycle anticipates $5.3 million in severance and related charges, mostly recognized in the third quarter of 202525.
The company will recognize $6.5 million in deferred revenue from the Genentech deal in the third quarter of 20252.
Sources:
1. https://www.fiercebiotech.com/biotech/fierce-biotech-layoff-tracker-2025
2. https://www.fiercebiotech.com/biotech/bicycle-lays-25-workforce-genentech-rides-away-rd-pact
4. https://sfbn.org/san-francisco-biotech-news/2025/08/08/bicycle-lays-off-25-of-workforce-as-genentech-rides-away-from-rd-pact/