9 March 2023 - - US-based biotechnology company Bicara Therapeutics has completed an oversubscribed USD 108m series B financing to advance its lead program BCA101 and its pipeline of investigational candidates to treat solid tumor cancers, the company said.

The financing was co-led by Red Tree Venture Capital and RA Capital Management, with participation from existing investors, including F-Prime Capital, Eight Roads Ventures, Invus, Piper Heartland Healthcare Capital and Premji Invest.

New investors include Omega Funds, Bioqube Ventures, Acorn Bioventures and Janus Henderson Investors.

In conjunction with the financing, Krishna Polu, M.D., Principal at Red Tree Venture Capital, Jake Simson, Ph.D., Partner at RA Capital Management, and Ketan Patel, M.D., Partner at F-Prime Capital, will join the company's board of directors.

BCA101 is a dual-action bifunctional antibody designed to inhibit EGFR and disable TGF-β directly at the tumor site, achieving superior anti-tumor response with an improved therapeutic window.

Bicara has previously reported promising efficacy and safety data from its ongoing Phase 1/1b clinical trial and intends to present additional data at an upcoming medical conference in 2023.

Additionally, the company continues to advance Investigational New Drug-enabling studies for BCA356, a second precision tumor modulator program.

Bicara Therapeutics is a clinical-stage biotechnology company developing first-in-class biologics engineered to bring together the precision of targeted therapy and the power of tumor modulators.

The company's bifunctional antibodies are designed to deliver an immunomodulatory payload directly to the tumor microenvironment to ramp up immune cell activity, potentially offering long-lasting efficacy.

Bicara's lead asset, BCA101, a first-in-class EGFR / TGF-β-trap bifunctional antibody, is currently enrolling patients in a Phase 1/1b study.

Bicara's experienced team brings deep expertise across immunology, oncology, clinical development, business development and operational strategy.

Red Tree Venture Capital is a West Coast-centric, early stage-biased life science venture capital firm. The firm leverages deep relationships with leading West Coast academic and research institutions to source innovation emerging from those organizations.

RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies that are developing drugs, medical devices, and diagnostics.