Bicara Therapeutics (BCAX) Barclays 28th Annual Global Healthcare Conference summary

Company overview and scientific rationale

• Focuses on bifunctional antibodies targeting tumors, with a lead EGFR TGF-beta program licensed in 2020.

• EGFR is used to deliver TGF-beta to the tumor microenvironment, exploiting synergy between the two.

• HPV-negative head and neck cancer is a primary target due to high EGFR and TGF-beta expression.

• TGF-beta helps overcome acquired resistance to EGFR, providing dual mechanism benefits.

Clinical data and efficacy

• Early data showed deep and durable responses, with a 21% complete response rate at 1500 mg and 55% confirmed response rate.

• Median duration of response is 21.7 months, nearly tripling the responder population compared to Pembro.

• TGF-beta component is credited for enhanced depth and durability of response.

• Durability and efficacy are consistent across multiple dosing regimens.

Safety and differentiation

• Improved toxicity profile attributed to a more targeted TGF-beta trap using the extracellular domain of receptor two.

• Greater specificity for TGF-beta 1 and 3 reduces historical toxicities like cardiomyopathy.