Tandem Diabetes Care is set to begin trading on the NASDAQ stock exchange today after pricing its initial public offering of 8 million shares at $15 each, the upper end of its initial range.
The amount the company actually raised could be higher than the $120 million pricing due to a 1.2 million-share over-allotment for the offering’s underwriters, which if exercised would push the raise to $138 million. Shares are expected to begin trading today under the TNDM symbol.
Healthcare startup Scanadu, based out of NASA’s Ames Research Center, touted a $10.5 million Series A funding round that precedes some big changes for the emerging company and its "tricorder" technology.
CardioInsight Technologies landed its initial $15 million investment, parts of a long-term strategic financing plan that begins with enough funding to complete its European clinical trials.
The Cleveland, Ohio-based medical device company is a developer of non-invasive electrocardiographic mapping technology. The new funds will allow CardioInsight to finish its ongoing multi-center studies in Europe and seek regulatory clearance in the U.S. for its heart mapping systems.
MASSDEVICE ON CALL — Medical device startups in New England appear to be enjoying a venture capital renaissance as their peers around the nation are forced to tighten their belts and look for alternative funding.
Local companies raked in more than $500 million through 46 listed deals last year, setting a new 10-year high, and 2013 is on track to match, the Boston Business Journal reported.
Clear Catheter Systems Inc. said it raised $3.8 million in an equity round.
The Bend, Ore.-based company’s goal is to raise $4 million from the sale, according to a regulatory filing.
Three unnamed investors participated in the round, according to the filing.
Ablative Solutions, which is developing perivascular renal denervation technology for treating high blood pressure, raised an $8.0 million funding round, according to a regulatory filing.
Menlo Park, Calif.-based Ablative Solutions said 98 unnamed investors participated in the funding round, which consisted of debt, options and warrants.
Surefire Medical said it brought in $18.2 million in a Series B funding round it plans to use to further development of its infusion device for liver cancer.
The Westminster, Colo.-based medical device company said new backer Super Angel investors joined existing investors MCG Partners, Partisan Management Group and High Country Ventures in the round.
There has been much recent hand-wringing about the lack of availability of funding for medtech startup, but analysts at PricewaterhouseCoopers see it a little differently.