HomeIPO

IH Interests: IPO

Bonesupport Listed on NASDAQ Stockholm

The company develops and markets injectable bioceramic bone graft substitutes.

Read More
GI Company Motus Files for IPO

The company, which makes a colonoscopy prep device, plans to raise $29M.

Read More

Bonesupport Listed on NASDAQ Stockholm

Last week Swedish orthobiologics company Bonesupport AB was listed on NASDAQ Stockholm. Bonesupport (BONEX) is part of an IPO hot streak on the Nordic markets – it was the 63rd company to be listed in 2017, and one of five companies (Sedana Medical among them) to be listed on the NASDAQ Stockholm on June 21. Five companies to go public on the same day is a record for the listing.

Bonesupport will use proceeds from the offering to fund the company’s growth strategy, including sales and marketing efforts in the U.S. and Europe, collection of clinical data, the Fortify IDE study and investment in their product pipeline. The FORTIFY trial, which enrolled its first patient last month, will support a PMA application in the U.S. for CERAMENT G, an injectable antibiotic-eluting bone graft substitute. The company is pursuing approval for CERAMENT G in open tibial fractures, which are associated with infection and fracture non-union as well as long-term disability.

The first formulation of CERAMENT was 510(k)-cleared in 2008 as a synthetic bone void filler comprised of hydroxyapatite and calcium sulfate. Indications for use include gaps and voids in bone, such as those occurring from trauma and benign bone tumors. The antibiotic-eluting versions of the material, CERAMENT G (gentamicin) and CERAMENT V (vancomycin), have been CE-marked and are available for sale in Europe.


Posted June 26, 2017

GI Company Motus Files for IPO

Israeli GI company Motus announced plans to IPO, anticipating that they will raise $28.8 million to support commercialization of their single-use Pure-Vu device. The Pure-Vu connects to standard colonoscopes to irrigate poorly-prepped colons during colonoscopy. In addition to seeking reimbursement for the system, the company plans to seek an additional indication that will enable them to “actively promote minimal prep capabilities directly to patients.” Motus plans to conduct a clinical trial in 2018 that should enable this expanded labeling in 2019.

In their filing, Motus said that there are 15 million colonoscopies are performed in the U.S. each year. Between 23% and 45% of these patients present for the procedure with poorly prepped colons, which can result in compromised diagnostic accuracy or the need to repeat the test. Additionally, the company says that approximately 57% of patients state that bowel preparation is the number one deterrent for the procedure, which highlights the appeal of a minimal-prep routine in getting patients to comply with screening recommendations.

A number of companies are working to make bowel imaging less invasive and disruptive to patients. Among those technologies are PillCam, which was acquired by Covidien (now Medtronic) via the¬†$860 million Given Imaging transaction in 2013. Check-Cap describes themselves as the first preparation-free capsule-based system for colon cancer screening. And among non-invasive tests is Exact Sciences‘ home-based DNA test Cologuard, which just reported 168% revenue growth (and a total of 571,000 tests prescribed) in 2017 compared to 2016.


Posted January 11, 2018