BridgeBio raises up to $1.2B, a month after submitting cardio drug to FDA

Bridge­Bio has tapped in­vestors for up to $1.25 bil­lion as it pre­pares to com­mer­cial­ize its heart pill and get some breath­ing room to con­tin­ue run­ning mul­ti­ple clin­i­cal tri­als across car­diore­nal, on­col­o­gy and oth­er dis­ease ar­eas.

The fi­nanc­ing haul ar­rives a month af­ter Bridge­Bio sub­mit­ted aco­ramidis for FDA ap­proval and near­ly four months af­ter it inked a $250 mil­lion pri­vate place­ment.

An­a­lysts and in­dus­try in­sid­ers have been wait­ing to see what kind of trans­ac­tion the Pa­lo Al­to biotech would make af­ter it an­nounced its Phase III car­dio drug suc­cess last year, which came af­ter a long odyssey for the com­pa­ny and end­ed up be­ing one of the in­dus­try’s stand­out mo­ments in 2023.

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