---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-110907"
form_type: "8-K"
ticker: "OBIO"
cik: "0001814114"
company_name: "Orchestra BioMed Holdings, Inc."
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:30:48.692367+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-110907
- form_type: 8-K
- ticker: OBIO
- cik: 0001814114
- company_name: Orchestra BioMed Holdings, Inc.
- filed_at: 2025-11-13T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1814114/000110465925110907/0001104659-25-110907-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1814114/000110465925110907/tm2531129d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-110907
- JSON: https://secwatch.observer/filing/0001104659-25-110907.json
- Plain text: https://secwatch.observer/filing/0001104659-25-110907.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.