Orchestra BioMed secures $147M+ funding; BACKBEAT enrollment mid-2026

Orchestra BioMed Holdings, Inc.

Over $147M in strategic financing since August 2025; Ligand commits additional $31.6M for royalty interest.
Terumo pays $30M for ROFR on Virtue SAB global coronary market; total Terumo payments $65M.
BACKBEAT hypertension pivotal trial (N=500) enrollment completion expected mid-2026.
Virtue Trial (coronary ISR) IDE approved, N=740, initiated in 2H 2025.
Cash runway expected through Q4 2027.

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