Cardiac biotech Braveheart raises $382.5M in IPO, launches on Nasdaq as BRVE
Braveheart Bio, a cardiac drug developer, priced its initial public offering on Wednesday and secured $382.5 million in proceeds. The company sold about 21.2 million shares at $18 each, exceeding the price range it had indicated in a prior filing.
The shares will begin trading on the Nasdaq exchange on Thursday under the ticker symbol BRVE. Braveheart was founded in 2024 by former HI-Bio executives and previously raised $185 million in a Series A round.
The firm is advancing a drug called BHB-1893, licensed from China’s Hengrui Pharma, which aims to treat hypertrophic cardiomyopathy and compete with Bristol Myers Squibb’s Camzyos. The company says the candidate could offer efficacy advantages and a simpler dosing schedule.
Braveheart’s IPO adds to a busy year for biotechnology companies seeking public capital, contributing to a potential total of more than $1 billion raised by five biotech firms this week.
This writeup was produced by pharmadog from original reporting by BioPharma Dive.
Original headline: “Cardiac drug developer Braveheart banks more than $382M in IPO”
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