Biocon Founder Kiran Mazumdar-Shaw Celebrates Niece's Bicara Therapeutics Nasdaq Debut

Kiran Mazumdar-Shaw accompanied her niece in ringing the opening bell at the Nasdaq headquarters in New York City, marking a milestone for the Boston-based biopharmaceutical company

Bicara Therapeutics Nasdaq Debut: Biocon founder and Chairperson Kiran Mazumdar-Shaw expressed her pride and joy on Wednesday as her niece, Claire Mazumdar, made a significant achievement with the debut of her company, Bicara Therapeutics, on the Nasdaq stock exchange. Mazumdar-Shaw accompanied her niece in ringing the opening bell at the Nasdaq headquarters in New York City, marking a milestone for the Boston-based biopharmaceutical company.

The clinical-stage firm, dedicated to developing innovative bifunctional therapies for patients with solid tumours, achieved a billion-dollar valuation on its debut.

"Thrilled to be present at ringing the opening bell for Bicara Therapeutics' debut on Nasdaq exchange," Mazumdar-Shaw shared on social media platform X. "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."

Claire Mazumdar, the founding CEO of Bicara Therapeutics, said the significance of this moment for the company. In a public statement, Bicara announced, "We're excited to share that we've closed our IPO and are now 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 tumours."

The company's lead drug, ficerafusp alfa, is currently undergoing early-stage clinical trials in the United States to treat a form of head and neck cancer in combination with Merck's Keytruda. Part of the IPO proceeds will be allocated toward advancing mid-to-late-stage trials, expected to commence later this year or in early 2025, according to a report by Reuters.

Bicara Therapeutics' public listing signifies a new phase in its mission to address unmet needs in cancer treatment, while also highlighting the increasing global recognition of innovation stemming from India.