Sept 11 (Reuters) - Bicara Therapeutics, a TPG-backed

biopharmaceutical company developing a therapy targeting

tumors, said on Wednesday it plans to raise up to $265 million

through an upsized initial public offering (IPO) in the United

States.

This marks an increase from the previous target of raising

up to $212 million.

Expectations of a forthcoming rate cut is motivating several

startups to consider listing their shares. However, successfully

executing an IPO in the near future may prove challenging as

investors grow wary due to a slowdown in the labor market.

A closely monitored segment of the U.S. Treasury yield curve

reverted to normal last month after being inverted for two

years, an indicator that has traditionally suggested an

impending economic downturn.

Boston-based Bicara plans to list its common stock on

Nasdaq, trading under the symbol "BCAX".

The IPO will be underwritten by Morgan Stanley, TD Cowen,

Cantor, and Stifel.