Latest News | Bicara Therapeutics Inc Ceases to Be Associate Company: Biocon

New Delhi, Dec 13 (PTI) Biotechnology major Biocon on Wednesday said Bicara Therapeutics Inc has ceased to be its associate company after completing its USD 165 million (about Rs 1,375 crore) Series C financing.

Consequent to this infusion of Series C funding and post allotment of shares by Bicara, the company's shareholding in Bicara on fully diluted basis will fall below 20 per cent, the Bengaluru-based firm said in a regulatory filing.

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"Thereby, Bicara will cease to be an associate company of Biocon," it added.

Biocon shares on Wednesday ended 4.46 per cent up at Rs 249.25 apiece on the BSE.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)