2014 was a big year for medical device companies, with 25 companies filing for IPOs, compared to a mere four the year before.
Kimberly-Clark spinoff Halyard Health, and its suite of protective gear, is a beneficiary of the Ebola fears striking West Africa and the U.S. airwaves. The stock is up a little more than a dollar since Monday's IPO, and stands at $38.72 on the New York Stock Exchange prior to market open today.
Having spent the past 10 months weighing up the merits of a separate listing for its IT subsidiary NNIT, Novo Nordisk has decided it needs to wait a little longer before pulling the trigger.
Endoscopy system maker EndoChoice is the latest in a series of planned big-ticket med tech IPOs. The startup reportedly plans to file for an IPO on Nasdaq to raise $100 million to $150 million and value the company at as much as $600 million.
Two ambitious med tech IPOs are slated to go out in the coming week or so. Both are on their IPO road shows now. Each has an impressive array of investors, high targeted IPO amounts and substantial potential company valuations.
Novo Nordisk is reportedly set to unveil details of an IPO of its IT services business NNIT in the coming days. The Danish drugmaker has spent most of 2014 assessing whether to spin off the unit as an independent company.
Implantable tissue repair player Histogenics has filed for an initial public offering to raise up to $65 million. The financing is to fund an ongoing Phase III trial for its NeoCart, an implant to repair knee cartilage damage. Meanwhile, Molecular diagnostics company AutoGenomics is hoping the third time's the charm with its IPO filing for up to $60 million.
After two false starts in the summer, drug delivery company Microlin Bio is once again withdrawing its planned IPO due to unfavorable market conditions. It had hoped to raise $28 million by offering 5.1 million shares on the Nasdaq priced between $4.50 and $5.50, Renaissance Capital reports.
Israel's NeuroDerm filed for a stock offering on the basis of its subcutaneous formulation for treating Parkinson's; Civitas, the developer of an inhaled formulation for the disease, is expected to debut on the Nasdaq Sept. 24; and EyeGate Pharmaceuticals, which employs low-voltage electrical current to deliver eye medication, also just filed for an IPO.
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.