Bioheart Sets IPO Terms (BHRT)

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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; he does not own securities in the companies he covers.