Kiran Mazumdar-Shaw is 'thrilled' as niece makes her 'billion-dollar debut' with Bicara at Nasdaq

Bicara Therapeutics founding CEO Claire Mazumdar with her billionaire aunt and Biocon founding chairperson Kiran Mazumdar-Shaw after ringing the opening bell at Nasdaq exchange in New York City. (Image credit: @kiranshaw/X)

Biocon founder and chairperson Kiran Mazumdar-Shaw was a super proud aunt on Wednesday as her niece Claire Mazumder's company Bicara Therapeutics made its debut at Nasdaq. Mazumdar-Shaw, who accompanied her niece in ringing the opening bell at the stock exchange in New York City, said that she was "thrilled" and  "so very proud" of Mazumdar.

The clinical-stage biopharmaceutical company committed to bringing transformative bifunctional therapies for patients with solid tumours made a billion dollars on its debut.

"Thrilled to be present at ringing the opening bell for ⁦Bicara Therapeutics'⁩ debut on ⁦Nasdaq exchange," Mazumdar-Shaw wrote on 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." Mazumdar is the founding CEO of the company.

The moment we were all waiting for! @BicaraTx made a billion dollar debut on @Nasdaq pic.twitter.com/T7Wo6qChg0
Kiran Mazumdar-Shaw (@kiranshaw) September 25, 2024

The Boston-based company announced that going public marks a new chapter in developing therapies for cancer patients. "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," Bicara Therapeutics shared on X.

The company's lead drug, ficerafusp alfa, is currently in an early-stage study in the US to treat a type of head and neck cancer in combination with Merck's (MRK.N), opens new tab Keytruda. It plans to use part of the IPO proceeds to fund its mid-to-late stage study, which is expected to start later this year or early 2025, Reuters reported.