Braveheart Bio (BRVE.US) sets IPO pricing at $15-17 per share, aiming to raise $300 million to advance global Phase III clinical trials of cardiovascular drugs.

Zhitong Finance APP has learned that Braveheart Bio, a biotechnology company focused on the development of oral small molecule drugs for cardiovascular diseases and in pre-Phase III clinical trial preparation, announced its 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 per share, raising approximately $300 million. Fidelity Investments has expressed interest in subscribing for $75 million worth of shares in this issuance, accounting for 25% of the total offering. Based on the midpoint of the offering price, Braveheart Bio's fully diluted market capitalization will reach $1.4 billion.

Braveheart Bio is a clinical-stage biopharmaceutical company focused on developing therapies for hypertrophic cardiomyopathy (HCM) and other cardiovascular diseases. Its core candidate drug, BHB-1893, is an oral small-molecule cardiac myosin inhibitor, licensed from Jiangsu Hengrui Pharmaceuticals in September 2025, and is currently being developed for two subtypes: obstructive hypertrophic cardiomyopathy (oHCM) and non-obstructive hypertrophic cardiomyopathy (nHCM).

In the Phase II clinical trials completed by Hengrui Pharmaceuticals, BHB-1893 demonstrated a rapid and significant reduction in left ventricular outflow tract gradient (LVOT-G) in oHCM patients, and showed 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 this data and incorporates Hengrui Pharmaceuticals' ongoing Phase III oHCM trial with the same compound in Greater China. Braveheart plans to independently launch a global Phase III trial for oHCM (LIONHEART-HCM) in the second half of 2026, and start a Phase III trial for nHCM (NOBLEHEART-HCM) in the first half of 2027.

Braveheart Bio was founded in 2024 and plans to list on Nasdaq under the ticker symbol "BRVE". Goldman Sachs, Jefferies, TD Cowen, Stifel, and Cantor Fitzgerald are acting as joint book-running managers for this offering. The offering is expected to be priced during the week of August 3, 2026.