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[Funding alert] Cancer Therapy Platform Bicara Secures $165 Mn Series C Funding

Bicara Therapeutics, a clinical-stage biotechnology firm, has announced the completion of an oversubscribed $165 million Series C fundraising. The company develops dual-action biologics to elicit a powerful and lasting immune response.
Claire Mazumdar, Chief Executive Officer of Bicara Therapeutics

Bicara Therapeutics, a clinical-stage biotechnology firm, has announced the completion of an oversubscribed $165 million Series C fundraising. The company develops dual-action biologics to elicit a powerful and lasting immune response.

The funding round was co-led by Braidwell LP and TPG, which is funding the business through The Rise Fund and TPG Life Sciences Innovations (TPG LSI). Other new investors included Aisling Capital, Fairmount, Deerfield Management, and a prominent biotechnology investor connected to one of the biggest alternative asset managers. Participating in the round were all of the current Series B investors.

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“Momentum at Bicara is increasing following our BCA101 Phase 1/1b data presentations at key 2023 medical meetings,” said Claire Mazumdar, Ph.D., MBA, Chief Executive Officer of Bicara Therapeutics. “Our proof-of-concept data in frontline HPV-negative R/M HNSCC, a very difficult patient population to treat, underscore the promise of BCA101 as a new precision therapeutic option for these patients. With additional data readouts anticipated in 2024, we remain excited about the overall potential of BCA101 to help patients with HPV-negative R/M HNSCC, as well as other solid tumor types. We are thrilled to partner with this syndicate of new and existing leading healthcare investors, who share in our vision for BCA101 and Bicara’s bifunctional antibody platform.”

Bicara’s board of directors has welcomed Carolyn Ng, Ph.D., a Business Unit Partner at TPG LSI, in connection with the Series C investment.

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“Bicara’s Phase 1/1b dose expansion study of BCA101 has delivered encouraging, clinically meaningful interim results and offers an excellent foundation from which to continue to build Bicara into a leading oncology company,” said Dr. Ng. “I am excited to join Bicara’s board of directors at such an important time and look forward to working with this talented management team and distinguished board of directors to advance new treatments for cancer patients.”

About Bicara Therapeutics

Bicara Therapeutics is a biotechnology business in the clinical stage that is creating novel biologics that combine the potency of tumour microenvironment modulators with the accuracy of well-validated antibodies targeting tumours.

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The company’s bifunctional antibodies have the potential to have a synergistic therapeutic effect at the tumour site by directly delivering an immunomodulatory payload to the tumour microenvironment, which would increase immune cell activity. BCA101, the primary product candidate of Bicara, is a first-in-class bifunctional antibody that combines TGF-β and EGFR that is being developed for various types of tumours.

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