The red-hot IPO market for medical device companies shows no signs of abating as the year comes to a close, with BeneChill yesterday tossing its hat in the ring for a nearly $14 million flotation.
San Diego-based BeneChill developed a "therapeutic hypothermia" device called the RhinoChill that’s designed to prevent brain damage in cardiac arrest patients. The system uses a catheter to deliver a coolant to the nasal cavity to reduce patients’ temperature.
BeneChill also thinks the RhinoChill has applications in treating traumatic brain injury and migraine headaches, according to its Dec. 22 IPO filing with the SEC.
The company, which filed a confidential IPO registration in October, said it plans to list on the NASDAQ exchange under the BNCH symbol.
BeneChill joins at least 28 other medical device companies in testing the public markets this year. Just yesterday Infraredx unveiled its plan for a $55 million offering; last week Asante Solutions said it would go public in a $45 million IPO.