Biocon's Bicara Therapeutics Ceases to Be Associate Company
Biocon announced that Bicara Therapeutics Inc is no longer an associate company after completing its Series C financing, dropping Biocon's shareholding below 20%.
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.
"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.
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.
"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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