Laparoscopic surgery startup SurgiQuest has forced the hand of a potential acquirer. Last week, SurgiQuest filed to raise up to $75 million in an IPO. Now Conmed has said it will buy the Milford, CT, company instead for $265 million.
Radiopharmaceutical diagnostics company Advanced Accelerator Applications gained about 25%, or $4, in early trading after pricing an IPO on Nov. 10. That makes it at least the third U.S. med tech IPO since mid-September. Med tech IPOs continue to fare well despite a rocky broader market; the two prior ones for NovoCure and Penumbra remain up by 10% and 34%, respectively.
Chinese officials said last week they will lift a ban on mainland initial public offerings (IPOs), clearing the way for 10 companies already approved to move ahead with their listings within two weeks and another 18 to list before the end of the year, according to a report in the Wall Street Journal.
Advanced Inhalation Therapies (AIT) has become the latest biotech to push ahead with plans to float on Nasdaq in the face of mounting evidence that investors are cooling on such offerings. The company is hoping its mix of Wall Street experience in the C-suite and upcoming clinical trial data readouts will make it an attractive proposition to investors.
Less than two weeks after Shield Therapeutics pulled the plug on its £110 million ($170 million) IPO, Acacia Pharma has backed away from its plan to raise £150 million by listing on the London Stock Exchange.
China's BeiGene has announced plans to raise as much as $100 million on the Nasdaq in an initial public offering that follows a steady stream of venture capital to the oncology-focused biotech and expansion into manufacturing.
Hutchison China MediTech, or Chi-Med, plans an initial public share sale on the Nasdaq that shows a geographic spread that already includes Hong Kong, mainland China, and London for a company that has ramped up clinical activity in oncology candidates working with multinational partners.
New York-based Axsome Therapeutics isn't particularly well known in biotech circles, but it's nevertheless going to try to leverage a couple of clinical-stage drugs into a $57.5 million IPO at a time when much higher profile biotechs are finding their wings are being clipped by anxious investors.
Global market volatility claimed another victim as Australia's largest X-ray provider, I-MED Radiology Network, this week pulled its planned $350 million initial public offering, Reuters said.
This week, vascular specialist Penumbra is slated to price a $101 million IPO, while Swiss heart valve maker Symetis has started one for $83 million that's slated to start trading near the end of the month. In addition, Internet-of-Things player Adesto has filed to raise up to $50 million.