The National Institutes of Health (NIH) is preparing to publish a Notice of Funding Opportunity (NOFO) for the NHLBI SBIR Phase IIB Small Market Awards aimed at accelerating the commercialization of technologies for heart, lung, blood, and sleep disorders. This funding opportunity is designed to support small businesses in advancing promising biomedical projects that have previously received SBIR or STTR Phase II funding, specifically targeting products that address rare diseases or pediatric populations. With an estimated total program funding of $21 million and an award ceiling of $3.5 million, the anticipated application due date is February 25, 2025, with awards expected to be made by December 1, 2025. Interested applicants are encouraged to prepare their proposals in advance to meet the requirements integral to this initiative.