X0202 SCHEDULE 13G/A 0002005369 XXXXXXXX LIVE 1 Ordinary Shares, nominal value GBP 0.01 per share 03/31/2026 0001761612 Bicycle Therapeutics plc 088786108 Blocks A & B, Portway Building Granta Park Great Abington, Cambridge X0 CB21 6GS Rule 13d-1(c) Invus Public Equities, L.P. D0 1368586.00 0.00 1368586.00 0.00 1368586.00 N 2.7 PN Invus Public Equities, L.P. holds 1,368,586 American Depositary Shares ("ADSs"), each of which ADS represents one Ordinary Share, nominal value GBP 0.01 per share. Invus Public Equities Advisors, LLC DE 1368586.00 0.00 1368586.00 0.00 1368586.00 N 2.7 OO Invus Public Equities, L.P. holds 1,368,586 American Depositary Shares ("ADSs"), each of which ADS represents one Ordinary Share, nominal value GBP 0.01 per share. Invus Global Management, LLC DE 1368586.00 0.00 1368586.00 0.00 1368586.00 N 2.7 OO Invus Public Equities, L.P. holds 1,368,586 American Depositary Shares ("ADSs"), each of which ADS represents one Ordinary Share, nominal value GBP 0.01 per share. Siren, L.L.C. DE 1368586.00 0.00 1368586.00 0.00 1368586.00 N 2.7 OO Invus Public Equities, L.P. holds 1,368,586 American Depositary Shares ("ADSs"), each of which ADS represents one Ordinary Share, nominal value GBP 0.01 per share. Avicenna Life Sci Master Fund LP E9 192296.00 0.00 192296.00 0.00 192296.00 N 0.4 PN Avicenna Life Sci Master Fund LP holds 192,296 American Depositary Shares ("ADSs"), each of which ADS represents one Ordinary Share, nominal value GBP 0.01 per share. Avicenna Life Sci Master GP LLC DE 192296.00 0.00 192296.00 0.00 192296.00 N 0.4 OO Avicenna Life Sci Master Fund LP holds 192,296 American Depositary Shares ("ADSs"), each of which ADS represents one Ordinary Share, nominal value GBP 0.01 per share. Ulys, L.L.C. DE 192296.00 0.00 192296.00 0.00 192296.00 N 0.4 OO Avicenna Life Sci Master Fund LP holds 192,296 American Depositary Shares ("ADSs"), each of which ADS represents one Ordinary Share, nominal value GBP 0.01 per share. Raymond Debbane R1 1560882.00 0.00 1560882.00 0.00 1560882.00 N 3.1 IN Invus Public Equities, L.P. holds 1,368,586 American Depositary Shares ("ADSs"), and Avicenna Life Sci Master Fund LP holds 192,296 ADSs, each of which ADS represents one Ordinary Share, nominal value GBP 0.01 per share. Bicycle Therapeutics plc Blocks A & B, Portway Building, Granta Park, Great Abington, Cambridge, United Kingdom, CB21 6GS See Item 2(c) below. See Item 2(c) below. (i) Invus Public Equities, L.P. ("Invus Public Equities") 750 Lexington Avenue, 30th Floor, New York, NY 10022 Citizenship: Bermuda limited partnership (ii) Invus Public Equities Advisors, LLC ("Invus PE Advisors") 750 Lexington Avenue, 30th Floor, New York, NY 10022 Citizenship: Delaware limited liability company (iii) Invus Global Management, LLC ("Global Management") 750 Lexington Avenue, 30th Floor, New York, NY 10022 Citizenship: Delaware limited liability company (iv) Siren, L.L.C. ("Siren") c/o The Invus Group, LLC, 750 Lexington Avenue, 30th Floor, New York, NY 10022 Citizenship: Delaware limited liability company (v) Avicenna Life Sci Master Fund LP ("Avicenna Fund") 750 Lexington Avenue, 30th Floor, New York, NY 10022 Citizenship: Cayman Islands limited partnership (vi) Avicenna Life Sci Master GP LLC ("Avicenna GP") 750 Lexington Avenue, 30th Floor, New York, NY 10022 Citizenship: Delaware limited liability company (vii) Ulys, L.L.C. ("Ulys") 750 Lexington Avenue, 30th Floor, New York, NY 10022 Citizenship: Delaware limited liability company (viii) Mr. Raymond Debbane 750 Lexington Avenue, 30th Floor, New York, NY 10022 Citizenship: Panama The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." Y As of March 31, 2026, Invus Public Equities directly held 1,368,586 American Depositary Shares ("ADSs") of Bicycle Therapeutics plc (the "Issuer"), and Avicenna Fund directly held 192,296 ADSs of the Issuer, each of which ADS represents one ordinary share, nominal value GBP 0.01 per share (the "Shares"). Invus PE Advisors, as the general partner of Invus Public Equities, controls Invus Public Equities and, accordingly, may be deemed to beneficially own the Shares directly held by Invus Public Equities. Global Management, as the managing member of Invus PE Advisors, controls Invus PE Advisors and, accordingly, may be deemed to beneficially own the Shares that Invus PE Advisors may be deemed to beneficially own. Siren, as the managing member of Global Management, controls Global Management and, accordingly, may be deemed to beneficially own the Shares that Global Management may be deemed to beneficially own. Avicenna GP, as the general partner of Avicenna Fund, controls Avicenna Fund and, accordingly, may be deemed to beneficially own the Shares directly held by Avicenna Fund. Ulys, as the managing member of Avicenna GP, controls Avicenna GP and, accordingly, may be deemed to beneficially own the Shares that Avicenna GP may be deemed to beneficially own. Mr. Raymond Debbane, as the managing member of Siren and Ulys, controls Siren and Ulys and, accordingly, may be deemed to beneficially own the Shares that Siren and Ulys may be deemed to beneficially own. As of March 31, 2026, each of the Reporting Persons may be deemed to be the beneficial owner of the percentage of Shares listed on such Reporting Person's cover page. Calculations of the percentage of Shares beneficially owned are based on 50,269,082 Shares outstanding as of March 12, 2026, based on information provided by the Issuer in its annual report on Form 10-K as filed with the Securities and Exchange Commission on March 17, 2026. See each cover page hereof. See each cover page hereof. See each cover page hereof. See each cover page hereof. N Y Y Y Y Y N Each of the Reporting Persons hereby makes the following certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Invus Public Equities, L.P. /s/ Raymond Debbane 05/04/2026 Invus Public Equities Advisors, LLC /s/ Raymond Debbane 05/04/2026 Invus Global Management, LLC /s/ Raymond Debbane 05/04/2026 Siren, L.L.C. /s/ Raymond Debbane 05/04/2026 Avicenna Life Sci Master Fund LP /s/ Raymond Debbane 05/04/2026 Avicenna Life Sci Master GP LLC /s/ Raymond Debbane 05/04/2026 Ulys, L.L.C. /s/ Raymond Debbane 05/04/2026 Raymond Debbane /s/ Raymond Debbane 05/04/2026