Heart Health Biotech Kardigan Seeks $373.3 Million in US IPO

Kardigan Inc. is seeking to raise $373.3 million in a US initial public offering to help fund three late-stage drugs that target cardiovascular diseases.

The biotech plans to market 23.3 million shares for $14 to $16 each, according to its filing on Thursday with the US Securities and Exchange Commission. At the top of that range, the Princeton, New Jersey-based company would have a market value of $1.4 billion, based on the outstanding shares listed in its filing.

Led by a team including the former managers of MyoKardia Inc. prior to its $13.1 billion acquisition by Bristol-Myers Squibb Co. in ...