ARTICLE | Finance

As clinical evidence mounts for bispecific, VCs back Bicara with $108M series B

Red Tree branches beyond West Coast sweet spot to co-lead with RA Capital in backing Biocon spinout

March 6, 2023 10:33 PM UTC

With early clinical data showing responses to Bicara’s lead bifunctional molecule in two tumor types, a venture syndicate has backed the biotech in a new $108 million series B round to support further development of the program and a second preclinical bispecific.

Red Tree Venture Capital and RA Capital Management co-led the round, with first-time backers Omega Funds, Bioqube Ventures, Acorn Bioventures and Janus Henderson joining additional prior investors...