BioCardia raises $4.4 million in financing for its heart failure cell therapies
BioCardia announced it sold 3.509 million shares at an average price of $1.28 on June 5 to fund further efforts to bring its cellular and cell-derived therapeutics for the treatment of heart failure to market.
These net proceeds are anticipated to extend cash flow into the first quarter of 2027. This, combined with currently outstanding warrants issued from previous financing, is anticipated to extend the company's cash runway well beyond its anticipated first market approval in 2027 and through its first commercial sales. BioCardia said it plans to file its Japanese market submission for CardiAMP HF with the Pharmaceuticals and Medical Devices Agency (PMDA) for final review by the fourth quarter of 2026.
The company's CardiAMP autologous and CardiALLO allogeneic cell therapies are biotherapeutic platforms with three cardiac clinical-stage product candidates in development. These therapies are enabled by its Helix biotherapeutic delivery and Morph vascular navigation product platforms. The company said these will soon be joined by the Heart3D fusion imaging platform, all of which are designed for the precise intracardiac delivery of cellular therapies.
The company is also working with the U.S. Food and Drug Administration (FDA) on market approvals for its transendocardial cell therapy delivery systems.
Dave Fornell has covered healthcare for more than 17 years, with a focus in cardiology and radiology. Fornell is a 5-time winner of a Jesse H. Neal Award, the most prestigious editorial honors in the field of specialized journalism. The wins included best technical content, best use of social media and best COVID-19 coverage. Fornell was also a three-time Neal finalist for best range of work by a single author. He produces more than 100 editorial videos each year, most of them interviews with key opinion leaders in medicine. He also writes technical articles, covers key trends, conducts video hospital site visits, and is very involved with social media. E-mail: [email protected]