BridgeBio Pharma bags up to $1.25 billion financing

California, USA-based biotech BridgeBio Pharma (Nasdaq: BBIO) today announced strategic financing from Blue Owl Capital and Canada Pension Plan Investment Board (CPP Investments), through a wholly owned subsidiary (CPPIB Credit) of CPPIB Credit Investments, bringing in capital of up to $1.25 billion.

As a result, BridgeBio says it obtains financing from experienced healthcare investors who share the company’s confidence in the anticipated launch of acoramidis as the potential backbone of therapy for transthyretin amyloid cardiomyopathy (ATTR-CM).

“We are excited to be working with a distinguished group of life sciences investors who are aligned with our view of acoramidis’ blockbuster market opportunity,” said Brian Stephenson, chief financial officer of BridgeBio. “Our newly strengthened balance sheet will enable us to serve ATTR-CM patients with a well-resourced launch of acoramidis, as well as patients with genetic diseases more broadly with multiple Phase III readouts for blockbuster indications anticipated over the next few years. Our increasing patient impact should allow us to diversify drivers of top line revenue in the near term and enable reinvestment into R&D paired with opportunistic business development,” he noted.