The Life Sciences team advised Bicara Therapeutics Inc. on the closing of its underwritten public offering of 8,581,250 shares of its common stock, and to certain investors that so choose, pre-funded warrants to purchase 2,200,000 shares of its common stock at an exercise price of $0.0001 per share. The shares of common stock sold included 1,406,250 shares pursuant to the option granted by Bicara to the underwriters, which option was exercised in full. The public offering price of each share of common stock was $16.00 and the public offering price of each pre-funded warrant was $15.9999. The aggregate gross proceeds to Bicara from this offering were approximately $172.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
Bicara Therapeutics is a clinical-stage biopharmaceutical company committed to bringing transformative bifunctional therapies to patients with solid tumors. Bicara’s lead program, ficerafusp alfa, is a first-in-class bifunctional antibody designed to drive tumor penetration by breaking barriers in the tumor microenvironment that have challenged the treatment of multiple solid tumor cancers. Specifically, ficerafusp alfa combines two clinically validated targets: an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-β). Through this targeted mechanism, ficerafusp alfa reverses the fibrotic and immune-excluded tumor microenvironment driven by TGF-β, signaling to enable tumor penetration that drives deep and durable responses. Ficerafusp alfa is being developed in head and neck squamous cell carcinoma, where there remains a significant unmet need, as well as other solid tumor types.
The Goodwin team was led by Gabriela Morales-Rivera, Kingsley Taft, Steven Tjoe, Maggie Wong, Ysabelle Regis, Julia Shaver, and Lauren Zhang.
For more information on the deal, please read the press release.