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Braveheart Bio files for Nasdaq IPO to fund Phase III cardiac myosin inhibitor in HCM

Edited by Robert McTiernan··3 min read
Braveheart Bio files for Nasdaq IPO to fund Phase III cardiac myosin inhibitor in HCM

Braveheart Bio, Inc. (Nasdaq: BRVE), a clinical-stage cardiovascular company seeking to enter a hypertrophic cardiomyopathy (HCM) market already served by two approved cardiac myosin inhibitors, filed a Form S-1 registration statement with the SEC on July 15, 2026, initiating a process to list its common stock on the Nasdaq Global Market.

The initial filing does not disclose the number of shares to be offered, the proposed price range, or expected gross proceeds, consistent with standard S-1 practice ahead of the roadshow.

The company reported raising approximately USD 185 million from undisclosed life sciences investors prior to filing, according to the S-1. Jiangsu Hengrui Pharmaceuticals is a confirmed equity holder, having received 32.5 million shares of non-voting Series A preferred stock — valued at approximately USD 25.7 million — as partial consideration for the September 2025 license agreement. No crossover round or concurrent private placement was disclosed. Cash and cash equivalents stood at USD 80.6 million as of March 31, 2026.

The filing states the proceeds will fund Phase III development of BHB-1893 in obstructive and non-obstructive HCM, as well as research and development personnel and general corporate purposes.

Company background

Braveheart Bio is a clinical-stage biopharmaceutical company focused on HCM and cardiovascular diseases. Its sole pipeline asset is BHB-1893 (HRS-1893), an oral small-molecule cardiac myosin inhibitor in-licensed from Hengrui in September 2025 under an exclusive, royalty-bearing agreement covering all territories outside Greater China. Total upfront consideration was approximately USD 58.2 million, comprising a USD 32.5 million cash payment and USD 25.7 million in preferred equity. Hengrui is eligible to receive up to USD 23 million in development milestones, up to USD 1 billion in commercial milestones, and tiered royalties of 5% to 10% on net sales.

The company's leadership includes CEO Travis Murdoch, who previously founded Human Immunology Biosciences (HI-Bio), subsequently acquired by Biogen, and co-founded Ollin Biosciences. Chief Scientific Officer Marc Evanchik held roles at MyoKardia — acquired by Bristol Myers Squibb for USD 13.1 billion — and Edgewise Therapeutics. Chief Development Officer Michele Anderson previously led regulatory affairs at Biogen's West Coast Hub and oversaw antiviral approvals at Gilead Sciences.

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BHB-1893 completed Phase II evaluation in oHCM and nHCM in trials designed, sponsored, and conducted by Hengrui, primarily in China. Braveheart plans to initiate LIONHEART-HCM, its global Phase III oHCM trial, in the second half of 2026, and NOBLEHEART-HCM, its global Phase III nHCM trial, in the first half of 2027. Hengrui is conducting a parallel Phase III oHCM trial of the same compound in Greater China and a Phase II trial in heart failure with preserved ejection fraction, with data expected in the second half of 2027.

In the Phase II oHCM study, the filing states that 86% of patients in one cohort achieved a complete gradient response — defined as post-Valsalva left ventricular outflow tract gradient below 30 mmHg — at Week 12, with no patients experiencing left ventricular ejection fraction (LVEF) below 50% during the 12-week core treatment period. In the Phase II nHCM study, the filing states BHB-1893-treated patients demonstrated statistically significant improvements in diastolic function, cardiac biomarkers, and structural remodeling compared to placebo, with no patients requiring treatment interruption for LVEF reductions.

BHB-1893 enters a competitive field where mavacamten (Camzyos), marketed by Bristol Myers Squibb following its MyoKardia acquisition, and aficamten (Myqorzo), developed by Cytokinetics and launched in 2025, are already approved for oHCM. The filing characterizes both approved agents as carrying an "LVEF cost" — parallel, dose-dependent reductions in outflow tract gradient and ejection fraction — that constrains dosing and requires Risk Evaluation and Mitigation Strategy monitoring.

According to the filing, Phase II data suggest BHB-1893 demonstrated rapid onset, predictable pharmacokinetics, limited drug-drug interactions, and a shallow relationship between dose and LVEF reduction. The company says these characteristics could support a simplified dosing regimen with less echocardiographic monitoring than first-generation cardiac myosin inhibitors, although this will require confirmation in Phase III studies.

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