Bioheart Sets IPO Terms (BHRT)

Print Email

Bioheart Inc. has set its IPO terms and it will trade under the NASDAQ ticker "BHRT."  BioHeart has set its IPO terms and plans to offer 3.575 million shares in a price range of $14.00 to $16.00 per share.  The company only lists Merriman Curhan Ford and Dawson James Securities as the underwriters. 

Here is a brief summary of the company:

  • Biotechnology company focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage.
  • Lead product candidate is MyoCell designed to populate regions of scar tissue within a patient’s heart with autologous muscle cells for the purpose of improving cardiac function in chronic heart failure patients.
  • The core technology used in MyoCell has been the subject of human clinical trials conducted over the last six years involving 84 enrollees and 70 treated patients.  A completed 40 patient Phase II clinical trial in various countries in Europe, and the MYOHEART Trial, a completed 20 patient Phase I dose escalation trial in the United States.
  • Interim results of the SEISMIC and MYOHEART Trials are disclosed in the prospectus and it is cleared by the U.S. FDA to proceed with a 330 patient multicenter Phase II/III trial of MyoCell in North America, Europe and Israel, or the MARVEL Trial.
  • Intend to seek to have final data available for the MARVEL Trial by the third quarter of 2009.
  • Its pipeline candidates are for the treatment of heart damage, including Bioheart Acute Cell Therapy, and MyoCell II with SDF-1, a therapy utilizing autologous cells genetically modified to express additional growth factors.

Jon C. Ogg
September 6, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.