Braveheart Bio (BRVE.US)'s IPO is priced at $15-17 per share, and plans to raise US$300 million to advance the global Phase III clinical trial of cardiovascular drugs

The Zhitong Finance App learned that Braveheart Bio (c), a biotechnology company focused on the development of oral small molecule drugs for cardiovascular diseases, which is in the phase III pre-clinical preparation stage, announced the initial public offering (IPO) terms on Thursday. The San Francisco, California-based company plans to issue 18.8 million shares at a price of 15 to 17 US dollars each, raising about $300 million. Fidelity Investments has indicated that it intends to subscribe for shares worth 75 million US dollars in this offering, accounting for 25% of the total issuance. Based on the midpoint of the launch price, Braveheart Bio will have a market value of 1.4 billion US dollars after complete dilution.

Braveheart Bio is a clinical-stage biopharmaceutical company focused on developing treatments for hypertrophic cardiomyopathy (HCM) and other cardiovascular diseases. Its core drug candidate, BHB-1893, is an oral small-molecule cardiomyosin inhibitor. It was authorized by Jiangsu Hengrui Pharmaceutical in September 2025 and is currently being developed for two subtypes of obstructive hypertrophic cardiomyopathy (OHCM) and non-obstructive hypertrophic cardiomyopathy (NHCM).

In the phase II clinical trial completed by Hengrui Pharmaceutical, BHB-1893 showed a rapid and significant reduction in left ventricular outflow channel pressure difference (LVOT-G) in OHCM patients, and there was also a statistically significant improvement in cardiac biomarkers and diastolic function compared to placebo in NHCM patients.

The company's phase III clinical strategy is based on the above data, combined with Hengrui Pharmaceutical's ongoing Phase III OHCM trial of the same compound in Greater China. BraveHeart plans to independently launch the global OHCM phase III trial (LIONHEART-HCM) in the second half of 2026 and the NHCM phase III trial (NOBLEHEART-HCM) in the first half of 2027.

Braveheart Bio was founded in 2024 and plans to be listed on the NASDAQ under the stock code “BRVE.” Goldman Sachs, Jefferies, TD Cowen, Stifel, and Cantor Fitzgerald acted as joint bookkeepers for this offering. Release pricing is expected to take place during the week of August 3, 2026.