Subsequent events	9 Months Ended
Sep. 30, 2021
Subsequent events.
Subsequent events	16. Subsequent events Underwritten Public Offering On October 15, 2021, the Company issued and sold 3,726,852 ADSs, representing the same number of ordinary shares, at a price to the public of $54.00 per ADS, resulting in gross proceeds of $201.3 million before deducting underwriting discounts, commissions and offering expenses. Genentech Expansion Option In October 2021, pursuant to Genentech exercising an option, an additional program has been agreed to be added to the collaboration, which triggers a $10 million payment to the Company under the Genentech Collaboration Agreement. UK Lease On November 1, 2021, BicycleTx Limited entered into an agreement for lease for office and laboratory space, in Cambridge, United Kingdom. The lease will commence upon the completion of the landlord’s work. The lease has a contractual period of 10 years, but may be cancelled by BicycleTx Limited on the 5th anniversary of the lease commencement date subject to certain conditions being met. In addition, BicycleTx Limited has a contractual right to renew for a further ten years. The annual rent will be settled once the landlord's work is completed and the premises is measured, subject to a maximum of approximately £2.2 million per year.

Subsequent events

9 Months Ended

Sep. 30, 2021

16. Subsequent events

Underwritten Public Offering

On October 15, 2021, the Company issued and sold 3,726,852 ADSs, representing the same number of ordinary shares, at a price to the public of $54.00 per ADS, resulting in gross proceeds of $201.3 million before deducting underwriting discounts, commissions and offering expenses.

Genentech Expansion Option

In October 2021, pursuant to Genentech exercising an option, an additional program has been agreed to be added to the collaboration, which triggers a $10 million payment to the Company under the Genentech Collaboration Agreement.

UK Lease

On November 1, 2021, BicycleTx Limited entered into an agreement for lease for office and laboratory space, in Cambridge, United Kingdom. The lease will commence upon the completion of the landlord’s work. The lease has a contractual period of 10 years, but may be cancelled by BicycleTx Limited on the 5th anniversary of the lease commencement date subject to certain conditions being met. In addition, BicycleTx Limited has a contractual right to renew for a further ten years. The annual rent will be settled once the landlord's work is completed and the premises is measured, subject to a maximum of approximately £2.2 million per year.