BioVentrix has withdrawn its plans to go public, after pitching a Nasdaq IPO earlier this year that aimed to raise about $17 million.
In a filing with the SEC, the Massachusetts-based company said the terms of the offering were never set and no securities were sold, following the submission of its S-1 in February. It had planned to list under the ticker BVXX.
Multiple IPOs have been postponed in the past month, spanning a variety of sectors; most notably in medtech was Oura’s about-face at the end of September. The smart ring company had set goals of raising $2.2 billion about a week prior, before citing market uncertainty for the pause.
BioVentrix has been developing a less-invasive surgical technique to reshape the cardiac muscle following a loss of function from a heart attack or heart failure.
The Revivent procedure includes the placement of multiple titanium anchor implants to help pull together and reinforce the pumping action of a dilated left ventricle. The approach received a CE Mark in Europe in 2016, and carries a breakthrough designation from the FDA.
Earlier this month the company announced that it had expanded into new clinical sites for its pivotal study examining the addition of the Revivent procedure to guideline-directed medical therapy in people with heart failure and reduced ejection fraction, or HFrEF.
With the latest surgeries performed in Tbilisi in the Republic of Georgia, the one-year RELIVE trial aims to randomize about 135 participants with symptomatic heart failure and significant scarring in the left ventricle.
The company said two patients tolerated the procedure and were discharged in five days. The study’s first patient was treated in November 2025 at Saint Luke’s Mid America Heart Institute in Kansas City, Missouri.
BioVentrix previously raised $48.5 million in a 2023 series A venture capital round.
