BICYCLETX LIMITED
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Cash
£96m
+187% highest in 3 filed years
Net assets
-£613m
-28.9% lowest in 3 filed years
Employees
212
+18.4% highest in 3 filed years
Profit before tax
-£170m
+16.7% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Confirmation statement overdue
Due 2026-08-16.
-
Negative shareholders' funds
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £20,985,000 | £27,990,000 | £54,772,000 | +95.7% | |
| Operating profit | -£162,716,000 | -£205,521,000 | -£170,943,000 | +16.8% | |
| Profit before tax | -£162,686,000 | -£204,631,000 | -£170,390,000 | +16.7% | |
| Net profit | -£143,802,000 | -£170,853,000 | -£143,903,000 | +15.8% | |
| Cash | £18,224,000 | £33,397,000 | £95,854,000 | +187% | |
| Total assets less current liabilities | -£236,403,000 | -£401,581,000 | -£585,561,000 | -45.8% | |
| Net assets | -£323,190,000 | -£475,350,000 | -£612,752,000 | -28.9% | |
| Equity | -£323,190,000 | — | — | — | |
| Average employees | 170 | 179 | 212 | +18.4% | |
| Wages | £18,181,000 | £19,957,000 | £22,782,000 | +14.2% | |
| Directors' remuneration | £3,051,000 | £3,432,000 | £3,372,000 | -1.7% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Gearing (liabilities / total assets) | — | 722.8% | 534.4% | |
| Current ratio | 0.15x | 0.14x | 0.19x |
Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“At 31 December 2025 the Company's parent and subsidiaries together had cash and cash equivalents of £467.4 million (31 December 2024: £700.8 million) and the directors estimate that the parent's existing cash and cash equivalents on hand at the date of approval of these financial statements is sufficient to provide this financial support. This undertaking will remain in place for the foreseeable future and will not be withdrawn during a period at least 12 months from the date of approval of these financial statements. Therefore it is appropriate to prepare these financial statements on a going concern basis.”
Significant events
- “In January 2025, we announced topline results from the ongoing Phase I trial evaluating zelenectide pevedotin in combination with pembrolizumab.”
- “In May 2025 and August 2025, we announced that we initiated the ongoing Phase I/II clinical trials assessing the efficacy and safety of zelenectide pevedotin in patients with NECTIN4 amplified advanced breast cancer and NECTIN4 amplified advanced or metastatic non-small cell lung cancer, respectively.”
- “In November 2025, Bayer provided the Company with a notice of termination for one of the initial target programs, with such termination effective in January 2026.”
- “In July 2025, a product incorporating TfR1 Bicycle molecules under the Ionis Collaboration Agreement achieved acceptance of an IND application upon which Ionis paid the Company $2.0 million (£1.5 million).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 15 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| LEE, Kevin | Director | 2017-10-27 | Apr 1968 | English |
| QADIR, Mirza Zafar Iskander | Director | 2021-06-17 | Aug 1983 | British |
| SKYNNER, Michael | Director | 2021-06-17 | Jan 1969 | British |
Show 15 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ANSTEY, Michael Leith, Dr | Director | 2017-12-04 | 2020-06-30 |
| BINGHAM, Catherine Elizabeth, Dame | Director | 2017-12-04 | 2021-06-17 |
| BOURQUE, Janice | Director | 2019-08-12 | 2021-06-17 |
| HARLAND, Deborah, Dr | Director | 2017-12-04 | 2019-09-27 |
| HAU, Bosun | Director | 2019-05-22 | 2020-06-30 |
| HOFFMAN, Stephen | Director | 2017-12-04 | 2019-03-19 |
| JORDAN, Veronica Geraldeen Huber, Ms. | Director | 2019-10-30 | 2021-06-17 |
| KENDER, Richard | Director | 2019-08-12 | 2021-06-17 |
| KOENIG, Anja, Dr | Director | 2017-12-04 | 2019-05-22 |
| KRISHNAN, Viswanathan, Mr. | Director | 2018-12-22 | 2019-05-22 |
| LEE, James | Director | 2017-12-04 | 2018-07-12 |
| LEGAULT, Pierre | Director | 2019-03-19 | 2021-06-17 |
| NG, Carolyn, Dr | Director | 2018-07-12 | 2020-06-30 |
| RHODES, Jason Paul | Director | 2017-12-04 | 2019-05-22 |
| WINTER, Gregory Paul, Sir | Director | 2017-12-04 | 2021-06-17 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bicycle Therapeutics Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-10-27 | Active |
Filing timeline
Last 20 of 70 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-02 | AA | accounts | Accounts with accounts type full | |
| 2025-10-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-08-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-24 | AA | accounts | Accounts with accounts type full | |
| 2024-08-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-05-28 | AA | accounts | Accounts with accounts type full | |
| 2023-08-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-11 | CH01 | officers | Change person director company with change date | |
| 2023-06-23 | AA | accounts | Accounts with accounts type full | |
| 2022-08-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-08-09 | CH01 | officers | Change person director company with change date | |
| 2022-07-14 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-07-14 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2022-07-04 | AA | accounts | Accounts with accounts type full | |
| 2022-06-28 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2022-06-28 | AD01 | address | Change registered office address company with date old address new address | |
| 2021-08-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-07-12 | CH01 | officers | Change person director company with change date | |
| 2021-07-10 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.