Kardigan targets $320 million IPO to fund three late-stage heart drugs

Kardigan, a biotech focused on cardiovascular therapies, announced plans for an initial public offering that aims to raise about $320 million.

The proceeds are intended to support the development and potential commercialization of three late-stage heart drugs that the company says are nearing the final phases of clinical testing.

The filing comes as Nasdaq listings for biotech firms gain momentum, following the recent record-breaking IPO of Parabilis Medicines, which set a high bar for similar offerings.

CEO Tassos Gianakakos said the capital raise will give Kardigan the resources needed to advance its pipeline and position the company for future growth.