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.