Braveheart Bio, a clinical-stage biopharmaceutical company headquartered in San Francisco, California, has filed for a U.S. initial public offering that would value the company at as much as $1.2 billion. The company said it plans to sell 18.8 million shares in the offering, with a proposed price range of $15 to $17 per share, which would raise up to $318.8 million if priced at the top of the range.
The company develops therapies focused on hypertrophic cardiomyopathy - a disease in which the heart muscle becomes abnormally thickened and consequently pumps and fills blood less efficiently. Symptoms associated with this condition that the company cites include shortness of breath, chest pain, fatigue and fainting.
Braveheart Bio’s lead candidate, BHB-1893, is described by the company as an oral cardiac myosin inhibitor intended to treat both obstructive and non-obstructive forms of hypertrophic cardiomyopathy. The filing states that the proceeds from the IPO will be used to advance development of BHB-1893, fund additional research and development work, and for general corporate purposes.
Since its founding in 2024, the company has raised approximately $185 million in Series A financing from a group of investors that includes Andreessen Horowitz, Forbion and OrbiMed. Fidelity Management & Research is cited as a cornerstone investor with an expressed interest in acquiring up to $75 million of shares at the IPO price.
Braveheart Bio has named Goldman Sachs, Jefferies, TD Cowen, Stifel and Cantor as joint bookrunners for the proposed offering. The company intends to list its common stock on the Nasdaq Global Market under the ticker symbol BRVE.
The filing presents the company’s near-term financing strategy and identifies the uses for capital tied primarily to clinical development and corporate support. The documentation reiterates the focus on therapies for hypertrophic cardiomyopathy and related cardiovascular conditions, and notes investor backing from both venture firms and an institutional cornerstone participant.