Bicara and Zenas File for IPOs to Advance Late-Phase Cancer and Autoimmune Treatments

IPO Filings:
Bicara Therapeutics and Zenas BioPharma have both filed for initial public offerings (IPOs) on the same day, August 23, 2024.

Bicara’s Focus:
Bicara is seeking funding for a phase 2/3 cancer trial, specifically for head and neck squamous cell carcinoma using their bifunctional antibody, ficerafusp alfa.

Zenas’ Focus:
Zenas is running a pivotal autoimmune disease study, particularly for immunoglobulin G4-related disease, using their bifunctional monoclonal antibody, obexelimab.

Market Context:
These IPO filings come during a summer slump for biotech public debuts, with both companies having substantial venture backing and clinical data.

Investor Support:
Bicara has raised over $273 million in Series B and C rounds, while Zenas has obtained $50 million upfront from Bristol Myers Squibb for certain regional rights to obexelimab.