BridgeBio Lands $1 Billion Preferred-Equity Lifeline From KKR and Sixth Street
- BridgeBio Pharma has secured $1 billion in preferred-equity financing from KKR and Sixth Street Partners, the company said June 30, giving the rare-disease biotech runway to fund commercial launches and late-stage development (Bloomberg).
- Preferred-equity structures — which sit between debt and common stock — have become a popular 2026 financing tool for clinical-stage biotechs priced out of the follow-on market.
- The deal adds to a string of large private-capital commitments to U.S. biotech this year as crossover investors retreat.