Bioheart: A new record for IPO futility?
The embattled cell-therapy startup Bioheart finally limped across the IPO goal line yesterday, but it was a Pyhrric victory. The startup, which once sought $70 million, ended up netting as little as $1.5 million. And almost half of that amount came directly from Bioheart founder Henry Leonhardt instead of outside investors.
Bioheart, of course, has had no shortage of problems, which we’ve chronicled over at VentureBeat Life Sciences. For the latest installment, see here.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.