Novartis was Bicycle Therapeutics’s largest revenue line in fiscal 2025, bringing in $47.00M of $72.62M (65%).
| Collaborative Arrangement and Arrangement Other than Collaborative | FY 2018 | FY 2019 | FY 2020 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Novartis | — | $1.91M | $8.20M | $47.00M | |||
| Genentech Collaboration Deferred Revenue | $3.60M | $12.00M | $14.84M | $14.70M | |||
| Genentech | — | — | — | — | |||
| Ionis Collaboration Deferred Revenue | $9.35M | $10.73M | $8.90M | $2.00M | |||
| Sanofi | — | — | — | — | |||
| Bayer Collaboration Agreement | — | $1.20M | $3.40M | $8.92M | |||
| Oxurion | — | — | — | — | |||
| Astrazeneca Collaboration Deferred Revenue | $1.17M | $1.20M | — | — | |||
| Astrazeneca | — | — | — | — | |||
| Material Transfer Agreement | — | — | — | — | |||
| Dementia Discovery Fund | $386.00K | — | — | — | |||
| Total | $14.50M | $27.05M | $35.34M | $72.62M |
Bicycle Therapeutics brought in $72.62M from its four revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 105.5% from $35.34M in fiscal 2024. Novartis was the largest at $47.00M (64.7%), ahead of Genentech Collaboration Deferred Revenue at $14.70M (20.2%) and Bayer Collaboration Agreement at $8.92M (12.3%). The remaining revenue line, Ionis Collaboration Deferred Revenue, brought in $2.00M.
Compared with fiscal 2024, Novartis grew fastest, up 473.2% to $47.00M, while Ionis Collaboration Deferred Revenue fell the most, down 77.5% to $2.00M.
Bicycle Therapeutics began breaking out Novartis in fiscal 2023 and Bayer Collaboration Agreement in fiscal 2023. Bicycle Therapeutics stopped reporting Astrazeneca Collaboration Deferred Revenue ($1.20M in fiscal 2023) and Dementia Discovery Fund ($386.00K in fiscal 2022) as separate revenue lines.
Bicycle Therapeutics (BCYC) reports its revenue by collaborative arrangement and arrangement other than collaborative. In fiscal 2025, Novartis was its largest revenue line, bringing in $47.00M (64.7% of the total), followed by Genentech Collaboration Deferred Revenue at $14.70M (20.2%).
Novartis was Bicycle Therapeutics' largest revenue line in fiscal 2025, bringing in $47.00M, or 64.7% of the $72.62M total across its four revenue lines.
Among Bicycle Therapeutics' revenue lines that make up at least 2% of revenue, Novartis grew fastest in fiscal 2025, up 473.2% from $8.20M to $47.00M.
Every figure comes from Bicycle Therapeutics' annual financial filings, as reported. Each line keeps the name Bicycle Therapeutics gives it, and years follow its fiscal calendar.
Bicycle Therapeutics' revenue by collaborative arrangement and arrangement other than collaborative goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.