Kardigan, Inc. (Nasdaq: KARD), a Princeton, New Jersey-based clinical-stage cardiovascular therapeutics company led by the founders of MyoKardia, filed Amendment No. 1 to its Form S-1 on June 11, 2026, disclosing terms for an IPO that could raise up to USD 373 million at the top of the indicated range. The scale would place it among the largest biotech public offerings in recent years, with Kardigan the latest biotech to take advantage of favorable market conditions to go public in 2026.
The offering comprises 23,333,334 shares of common stock at an indicated price of USD 14.00 to USD 16.00 per share, implying gross proceeds of approximately USD 327 million to USD 373 million before expenses. The company has granted underwriters a 30-day overallotment option for up to an additional 3,500,000 shares, which would increase maximum gross proceeds to approximately USD 432 million at the top of the range. The filing did not disclose lead bookrunners in the excerpted content reviewed. The company has applied to list its common stock on the Nasdaq Global Market under the ticker symbol KARD.
The filing named Perceptive Advisors, T. Rowe Price, and Fidelity Management & Research as existing backers alongside ARCH Venture Partners and HRTG Partners, indicating crossover participation by major public-market investors ahead of the Kardigan Inc initial public offering. The presence of ARCH Venture Partners, a flagship early-stage life sciences fund, and multiple crossover investors signals institutional conviction in the company's cardiovascular pipeline. Specific pre-IPO capital raised and round-by-round details were not disclosed in the preliminary prospectus.
Company background
Kardigan Inc was incorporated in Delaware in August 2023 under the name EnCarda, Inc. and renamed in December 2024. The company is led by co-founders Tassos Gianakakos, who previously served as chief executive officer of MyoKardia, Inc., and Jay Edelberg, M.D., Ph.D., who held senior roles at MyoKardia, Sanofi, Bristol Myers Squibb, and GlaxoSmithKline. Both are also co-founders of Prolaio, indicating a founder-led consolidation of cardiovascular assets and digital infrastructure.
The company's strategic relevance to investors derives in part from its founders' track record at MyoKardia, which developed mavacamten (Camzyos), the first approved cardiac myosin inhibitor for hypertrophic cardiomyopathy, before being acquired by Bristol Myers Squibb. Kardigan applies a similar precision medicine framework to three separate cardiovascular indications for which no approved therapies currently exist.
The company also operates the Prolaio platform, a proprietary data and analytics system incorporating US FDA-regulated Class I and Class II devices, including 510(k)-cleared algorithms. The platform integrates third-party wearable sensors with AI-driven analytics to enable continuous, real-world physiologic data collection from patients outside clinical settings. Kardigan stated that the platform is designed to support trial efficiency, accelerate proof-of-concept timelines, and enable the development of digital clinical endpoints, though it acknowledged that no guarantee exists that these efficiencies will be achieved.