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BioHeart Sets IPO Terms

BioHeart, a Sunrise, Florida-based developer of heart muscle regeneration therapies, has set its proposed IPO terms to 3.575 million common shares being offered at between $14 and $16 per share. If it prices at the top of its range, the company would have an initial market cap of around $270.5 million. BioHeart plans to trade on the Nasdaq under ticker symbol BHRT, with BMO Capital Markets and Janney Montgomery Scott serving as co-lead underwriters. It has raised around $40 million in VC funding since 2000, from firms like Ascent Medical Ventures, Guidant, Tyco Capital and Advent-Moro Equity Partners.