Frazier Life Sciences funds report 5.5% Braveheart Bio (BRVE) stake after IPO

Rhea-AI Filing Summary

Frazier Life Sciences investment entities report beneficial ownership in Braveheart Bio, Inc. common stock. Frazier Life Sciences Public Fund, L.P. directly holds 4,976,457 shares, representing 5.5% of the common stock based on 90,038,969 shares anticipated to be outstanding after the company’s initial public offering described in an August 6, 2026 prospectus. Related Frazier Life Sciences funds collectively hold smaller positions of 20,361 and 110,554 shares through separate Delaware limited partnerships and LLCs, each with shared voting and dispositive power and no sole voting or dispositive power reported.

Key Figures

FLSPF shares held: 4,976,457 shares FLSPF percent of class: 5.5 % Shares outstanding base: 90,038,969 shares +2 more

5 metrics

FLSPF shares held 4,976,457 shares Common Stock directly held by Frazier Life Sciences Public Fund, L.P.

FLSPF percent of class 5.5 % Percentage of Braveheart Bio common stock held by FLSPF

Shares outstanding base 90,038,969 shares Anticipated common shares outstanding after the initial public offering

FLS XI shares held 20,361 shares Common Stock directly held by Frazier Life Sciences XI, L.P.

FLS XII shares held 110,554 shares Common Stock directly held by Frazier Life Sciences XII, L.P.

Key Terms

beneficially owned, shared voting power, shared dispositive power, initial public offering, +1 more

5 terms

beneficially owned financial

"Amount beneficially owned: The information contained in row 9 of each Reporting Person's cover"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"6 | Shared Voting Power 4,976,457.00 7 | Sole Dispositive Power 0.00 8 | Shared"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"8 | Shared Dispositive Power 4,976,457.00 9 4,976,457.00 10 11 5.5 %"

initial public offering financial

"shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

CUSIP Number financial

"(e) | CUSIP Number(s): 10567X101"

A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.

FAQ

What ownership stake in BRVE does Frazier Life Sciences Public Fund report?

Frazier Life Sciences Public Fund, L.P. reports holding 4,976,457 shares of Braveheart Bio, Inc. common stock, representing 5.5% of the class based on 90,038,969 shares anticipated outstanding after the company’s initial public offering referenced in the August 6, 2026 prospectus.

How is the 5.5% ownership percentage in BRVE calculated for Frazier funds?

The 5.5% figure is calculated using a base of 90,038,969 Braveheart Bio common shares anticipated to be outstanding following the initial public offering, as set out in the company’s final prospectus filed under Rule 424(b)(4) on August 6, 2026.

Which Frazier Life Sciences entities are reporting holdings in BRVE?

Reporting entities include Frazier Life Sciences Public Fund, L.P., Frazier Life Sciences XI, L.P., Frazier Life Sciences XII, L.P., and related FHMLSP and FHMLS general partner entities, all organized in Delaware and collectively referred to as the reporting persons for these Braveheart Bio, Inc. common stock positions.

What are the smaller BRVE positions held by other Frazier Life Sciences funds?

Frazier Life Sciences XI, L.P. reports 20,361 shares of Braveheart Bio common stock, while Frazier Life Sciences XII, L.P. reports 110,554 shares. Each position reflects 0.0% or 0.1% of the class based on the 90,038,969-share post-IPO reference base.

Do the Frazier Life Sciences entities have sole or shared voting power over BRVE shares?

The reporting entities disclose 0 shares with sole voting or dispositive power and only shared voting and dispositive power. For example, 4,976,457 shares are reported with shared voting and dispositive power through Frazier Life Sciences Public Fund, L.P. and its associated general partners.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 04:30 PM Accepted by SEC EDGAR 08/14/2026 - 04:24 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Braveheart Bio, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

10567X101

(CUSIP Number)

08/07/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

Frazier Life Sciences Public Fund, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,976,457.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,976,457.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,976,457.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

FHMLSP, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,976,457.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,976,457.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,976,457.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

FHMLSP, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,976,457.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,976,457.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,976,457.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

Frazier Life Sciences XI, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 20,361.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 20,361.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,361.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

FHMLS XI, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 20,361.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 20,361.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,361.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

FHMLS XI, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 20,361.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 20,361.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,361.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

Frazier Life Sciences XII, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 110,554.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 110,554.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

110,554.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

FHMLS XII, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 110,554.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 110,554.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

110,554.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

CUSIP Number(s): 10567X101

1

Names of Reporting Persons

FHMLS XII, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 110,554.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 110,554.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

110,554.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentage listed in row 11 is calculated based on 90,038,969 shares of Common Stock that were anticipated to be outstanding following the Issuer's initial public offering as set forth in the Issuer's final prospectus filed with the SEC pursuant to Rule 424(b)(4) on August 6, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Braveheart Bio, Inc.
(b)	Address of issuer's principal executive offices: One Letterman Drive, Building A, Suite A4-300, San Francisco, CA, 94129.
Item 2.
(a)	Name of person filing: The entities and persons filing this statement (collectively, the "Reporting Persons") are: Frazier Life Sciences Public Fund, L.P. ("FLSPF") FHMLSP, L.P. FHMLSP, L.L.C. Frazier Life Sciences XI, L.P. ("FLS XI") FHMLS XI, L.P. FHMLS XI, L.L.C. Frazier Life Sciences XII, L.P. ("FLS XII") FHMLS XII, L.P. FHMLS XII, L.L.C.
(b)	Address or principal business office or, if none, residence: The address of the principal place of business for each of the Reporting Persons is: c/o Frazier Life Sciences Management, L.P. 1001 Page Mill Rd, Building 4, Suite 200B Palo Alto, CA 94304
(c)	Citizenship: The information contained in row 4 of each Reporting Person's cover page to this Schedule 13G is incorporated by reference.
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP Number(s): 10567X101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information contained in row 9 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference. FLSPF directly holds 4,976,457 shares of Common Stock. FHMLSP, L.P. is the general partner of FLSPF and the general partner of FHMLSP, L.P. is FHMLSP, L.L.C., which is managed by an investment committee of four that acts by majority vote. Accordingly, no members of such committee are attributed beneficial ownership of the securities directly held by FLSPF. FLS XI directly holds 20,361 shares of Common Stock. FHMLS XI, L.P. is the general partner of FLS XI and the general partner of FHMLS XI, L.P. is FHMLS XI, L.L.C., which is managed by an investment committee of three that acts by majority vote. Accordingly, no members of such committee are attributed beneficial ownership of the securities directly held by FLS XI. FLS XII directly holds 110,554 shares of Common Stock. FHMLS XII, L.P. is the general partner of FLS XII and the general partner of FHMLS XII, L.P. is FHMLS XII, L.L.C., which is managed by an investment committee of three that acts by majority vote. Accordingly, no members of such committee are attributed beneficial ownership of the securities directly held by FLS XII. Except as specifically stated herein, the filing of this Schedule 13G shall not be construed as an admission that any Reporting Person is, for the purposes of Section 13(d) and/or Section 13(g) of the Act or otherwise, the beneficial owner of any securities covered by this Schedule 13G or a member of a "group" with any other person.
(b)	Percent of class: The information contained in row 11 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information contained in row 5 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.
	(ii) Shared power to vote or to direct the vote: The information contained in row 6 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information contained in row 7 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information contained in row 8 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Frazier Life Sciences Public Fund, L.P.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P., GP of Frazier Life Sciences Public Fund, L.P.
Date:	08/14/2026

FHMLSP, L.P.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P.
Date:	08/14/2026

FHMLSP, L.L.C.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLSP, L.L.C.
Date:	08/14/2026

Frazier Life Sciences XI, L.P.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLS XI, L.L.C., GP of FHMLS XI, L.P., GP of Frazier Life Sciences XI, L.P.
Date:	08/14/2026

FHMLS XI, L.P.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLS XI, L.L.C., GP of FHMLS XI, L.P.
Date:	08/14/2026

FHMLS XI, L.L.C.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLS XI, L.L.C.
Date:	08/14/2026

Frazier Life Sciences XII, L.P.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLS XII, L.L.C., GP of FHMLS XII, L.P., GP of Frazier Life Sciences XII, L.P.
Date:	08/14/2026

FHMLS XII, L.P.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLS XII, L.L.C., GP of FHMLS XII, L.P.
Date:	08/14/2026

FHMLS XII, L.L.C.

Signature:	/s/ Jennifer Martin
Name/Title:	By Jennifer Martin, CFO of FHMLS XII, L.L.C.
Date:	08/14/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement