Establishment Labs prices $67m IPO

Breast implant maker Establishment Labs yesterday priced its initial public offering at $18 per share, saying it expects to gross nearly $67 million not including a possible underwriters option. Alajuela, Costa Rica-based Establishment Labs originally registered the offering at $58 million, saying it plans to use the proceeds to fund a pre-market approval study of its Motiva implants. The FDA granted an investigational device exemption in March for the PMA study and enrolled the first patient the next month, the company said. Yesterday the company said it’s offering some 3.7 million shares at $18 apiece, for gross proceeds of roughly $66.9 million, plus an underwriters option for another 557,000 shares that would add $10.0 million if exercised in full. Its shares are expected to begin trading today on the NASDAQ exchange under the “ESTA” symbol. The offering is expected to close July 23, Establishment Labs said. Post-market data from sales of Motiva, which it’s sold outside the U.S. since October 2010, show “low rates of adverse events (including rupture, capsular contracture, and safety related re-operations) that we believe compare favorably with those of our competitors,” the company has said. “We believe the proprietary technologies that differentiate our Motiva implants enable improved safety and aesthetic outcomes and have helped drive our revenue growth. Our MotivaImagine platform enables surgical ...
Source: Mass Device - Category: Medical Devices Authors: Tags: Cosmetic/Aesthetic Funding Roundup Initial Public Offering (IPO) Wall Street Beat Women's Health Establishment Labs Source Type: news

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Source: Expert Review of Anti-Infective Therapy - Category: Infectious Diseases Tags: Expert Rev Anti Infect Ther Source Type: research
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Source: Expert Review of Anti-Infective Therapy - Category: Infectious Diseases Tags: Expert Rev Anti Infect Ther Source Type: research
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