Biocon founder and Chairperson Kiran Mazumdar-Shaw’s niece Claire Mazumdar has made her debut at Nasdaq with her company, Bicara Therapeutics. Interestingly, Shaw accompanied Mazumdar for the ringing of the opening bell at the stock exchange in New York.
Shaw took to X (erstwhile Twitter) and wrote that she was “thrilled” and “so very proud”.
“Thrilled to be present at ringing the opening bell for Bicara Therapeutics’ debut on Nasdaq exchange. So very proud of my amazing niece Claire Mazumdar… I am bursting with pride to see Indian innovation being valued in the world’s most respected stock exchange,” Shaw posted.
Bicara Therapeutics, a clinical-stage biopharmaceutical company, focuses on brining transformative bifunctional therapies for patients with solid tumors.
The Boston-based company made a billion dollars on its debut and it said that going public marks a new chapter in developing therapies for cancer patients, as per a report by HT.
“We’re excited to share that we’ve closed our IPO and are listed on Nasdaq as $BCAX! This marks an important new chapter for our company as we aim to deliver transformative bifunctional therapies to patients with solid tumors,” the company stated.
According to a report by Reuters, the company’s lead drug, ficerafusp alfa is currently in an early-stage study in the US and aims to treat a type of head and neck cancer in combination with Merck’s (MRK.N). The company plans to use part of the IPO proceeds to fund its mid-to-late stage study that is expected to start later this year or early 2025.
