A pair of med tech companies--Intersect ENT and Ocular Therapeutix--are on the road and ready for an IPO this week. Both of these companies have high-profile corporate investors, Medtronic and Baxter, respectively. They are trying to cash in on the recently renewed, public investor interest in life science IPOs to raise the money to market FDA-approved products and advance pipelines.
Husch Blackwell, a Kansas City, MO-based national legal firm with a Food & Agribusiness team, has laid out the top reasons behind the sudden rush--citing increased news coverage of the sector as one of them.
T2 Biosystems has filed plans for a proposed IPO worth as much as $69 million, a big advance for the Massachusetts in vitro diagnostics company.
MicroLin Bio, a developer of microRNA treatments for cancer, is expected to price its $30 million IPO on the Nasdaq this week. Delays and share dilution have taken some of the shine off the event, but investors enthiusiam will ultimately hinge on the fate of its proprietary nanoparticle delivery technology.
Avista Capital Partners is looking for liquidity in its investment in medical imaging agent provider Lantheus. The company recently filed for a $125 million IPO. The financing would allow Lantheus to repay some of the debt that the private equity firm loaded it up with, in part to pay itself dividends.
Inogen is up almost 10% on news that it received FDA clearance for its latest home oxygen concentrator. Later this year, the company expects to start selling the device, which it has dubbed the Inogen At Home. It is up 32% since its February IPO.
Transdermal microneedle patch maker Zosano filed for a $65 million IPO on the Nasdaq with the U.S. Securities and Exchange Commission. The share price and number of shares to be offered under the ticker symbol ZSAN were not disclosed.
2013 marked a bleak year for med tech IPOs, with only four device companies making their market debut. But the backward trend could be on the upswing, as companies are cashing in their chips with plans to go public.
Belgian 3-D printer Materialise is planning a $104 million IPO on NASDAQ during the week of June 23. Medical devices account for much of its revenue, but it also does industrial work.
BBI Diagnostics Group provided details off its plans to be traded on the London Stock Exchange in June 2014 in a May 19 statement. The IPO will consist of the sale of the 25% indirect ownership interest in BBI held by parent company Alere.