Bridge­Bio inks $250M PIPE two months af­ter PhI­II heart pill win, hints at more fi­nanc­ing

Bridge­Bio will gain about $250 mil­lion via a pri­vate in­vest­ment as the biotech nears an ap­proval sub­mis­sion for its heart pill, two months af­ter ini­tial­ly dis­clos­ing a topline win that sent shares sky­rock­et­ing about 50%.

The Pa­lo Al­to, CA-based biotech said the pri­vate in­vest­ment in pub­lic eq­ui­ty will “pro­vide an en­try for new long-term share­hold­ers” ahead of the po­ten­tial 2024 launch of aco­ramidis. The PIPE ends a long-sim­mer­ing ques­tion about what fi­nan­cial moves Bridge­Bio would make af­ter its Phase III suc­cess in Ju­ly.

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