Braveheart Bio, a Phase 3-ready biotech developing oral small molecules for cardiovascular diseases, raised $383 million by offering 21.3 million shares at $18, above the $15 to $17 range. It had originally planned to offer 18.8 million shares. Fidelity had indicated on $75 million worth of shares in the offering (now 20% of the deal). At pricing, the company commands a fully diluted market value of $1.6 billion.
Braveheart Bio is a clinical-stage biopharmaceutical company developing therapies for hypertrophic cardiomyopathy (HCM) and other cardiovascular diseases. Its lead candidate, BHB-1893, is an oral small-molecule cardiac myosin inhibitor licensed from Jiangsu Hengrui Pharmaceuticals in September 2025, being developed for both obstructive (oHCM) and non-obstructive (nHCM) forms of HCM. In Phase 2 trials conducted by Hengrui, BHB-1893 showed rapid, substantial reductions in LVOT-G in oHCM patients and statistically significant improvements in cardiac biomarkers and diastolic function versus placebo in nHCM patients. The company's Phase 3 strategy draws on this data along with Hengrui's ongoing Phase 3 oHCM trial in Greater China of the same compound; Braveheart plans to initiate its own global Phase 3 trials in oHCM (LIONHEART-HCM) in the second half of 2026 and nHCM (NOBLEHEART-HCM) in the first half of 2027.
The San Francisco, CA-based company will trade on the Nasdaq under the symbol BRVE. Goldman Sachs, Jefferies, TD Cowen, Stifel, and Cantor Fitzgerald acted as joint bookrunners on the deal.
