Amended terms set a $15-to-$17 share range for a roughly $300 million raise, as the Andreessen Horowitz-backed biotech targets a valuation of up to $1.2 billion.
Braveheart Bio Inc. has updated the terms of its Nasdaq initial public offering, marketing shares at $15 to $17 for a raise of about $300 million after initially filing to raise up to $318.8 million. The clinical-stage biopharmaceutical company, founded in November 2025, is targeting a valuation of up to $1.2 billion and plans to list under the ticker “BRVE.” Braveheart is developing BHB-1893, an oral cardiac myosin inhibitor for hypertrophic cardiomyopathy, or HCM, under a licensing deal with Jiangsu Hengrui Pharmaceuticals. Positive Phase 2 data in obstructive and non-obstructive HCM were reported in March and May 2026, and global Phase 3 trials are expected to begin in late 2026 or early 2027. The company’s board is chaired by Chris Viehbacher, former CEO of Biogen, and Travis Murdoch serves as CEO. Investors include Andreessen Horowitz’s Bio + Health division, Forbion, OrbiMed, Enavate Sciences, and Frazier Life Sciences. The filing remains a conventional drug-development story rather than a crypto or blockchain one, even as it highlights a broader China-to-U.S. licensing model that some investors are watching for regulatory and geopolitical risk.