Kardigan’s $320M IPO pitch: Three borrowed heart drugs, one proven cardio CEO

Kardigan, a cardiovascular-focused biotech founded in 2023 by former MyoKardia executives, has formally filed for a Nasdaq IPO under the ticker KARD and is targeting a $320 million haul (up to $369 million with greenshoe) through the sale of 23.3 million shares in the $14–$16 range.

The company’s pitch centers on three “borrowed” late‑stage heart drugs:
danicamtiv, ataciguat, and tonlamarsen, all licensed from Bristol Myers Squibb/MyoKardia, Sanofi/Mayo, and Ionis, respectively, and aimed at underserved cardiovascular indications such as genetic dilated cardiomyopathy, calcific aortic valve stenosis, and acute severe hypertension.

At the helm is CEO Tassos Gianakakos, a proven cardio‑CEO who previously led MyoKardia to develop mavacamten and secure a $13.1 billion acquisition by Bristol Myers Squibb, giving investors a track record of building and exiting a successful cardiovascular franchise.

Kardigan plans to use roughly $320–$369 million of IPO proceeds primarily to fund late‑stage development of these three programs, with additional allocations for R&D and general corporate needs, positioning the company to advance its pipeline through 2028 and stay lean by licensing assets rather than building preclinical discovery from scratch.