BridgeBio Secures $250M PIPE Financing Led by Qatar Investment Authority

Biotech company BridgeBio is set to receive approximately $250 million through a private investment in public equity (PIPE) as it approaches the submission for approval of its heart pill, aco­ramidis. This comes two months after the company announced positive Phase III results, which caused its shares to surge by 50%. The PIPE will bring in new long-term shareholders and addresses the question of BridgeBio's financial strategy following its recent success.