Tumor biotechnology company Bicara Therapeutics (BCAX.US) applied for an IPO and plans to raise $200 million.

Bicara Therapeutics (BCAX.US) is a first-stage biotechnology company that primarily develops a dual-function antibody targeting solid tumors. The company submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Thursday Eastern Time, planning to raise $200 million. The main candidate drug of Bicara Therapeutics, ficerafusp alfa, is a dual-function antibody that combines two clinically validated targets. It is also an epidermal growth factor receptor (EGFR)-targeting monoclonal antibody that binds to the domain of human transforming growth factor (TGF-b). Through this dual targeting mechanism, ficerafusp alfa has the potential to exhibit strong anti-tumor activity by simultaneously blocking the inherent EGFR survival and proliferation of cancer cells, as well as the immunosuppressive TGF-b signaling in the tumor microenvironment. Ficerafusp alfa was initially used for head and neck squamous cell carcinoma (HNSCC). Bicara Therapeutics is conducting an ongoing phase 1/1b trial in the United States in combination with pembrolizumab, and the overall response rate of the trial is encouraging. The company plans to initiate a pivotal phase 2/3 trial at the end of the fourth quarter of 2024 or the beginning of the first quarter of 2025. In December of last year, Bicara Therapeutics announced the completion of a $165 million oversubscribed Series C financing round. The financing was jointly led by Braidwell LP and TPG. With the completion of the Series C financing, Bicara has raised a total of $273 million in funding for 2023. Bicara is headquartered in Boston, Massachusetts, established in 2020, and plans to list on Nasdaq with the stock code BCAX. Morgan Stanley, TD Cowen, Cantor Fitzgerald, and Stifel are the joint book-running managers for this transaction. The company has not yet disclosed pricing terms.