Tandem Diabetes had a very successful IPO near the close of 2013. Which is the next device IPO?
|In a securities filing, Amedica shows its line of products that uses silicon nitride.|
However, even the most optimistic know that it would be naive to expect 2014 to be the breakout IPO year similar to the one biotech companies experienced last year.
But there’s at least one device company that may go public soon. It won't be nearly as big as Tandem Diabetes' $120 million-dollar public launch though.
Amedica Corp., which describes itself as a biomaterial company developing applications in medical devices, set the terms of its IPO Jan. 29, having filed its initial intent to go public back in November.
The company expects to raise around $35 million, according to IPO research company Renaissance Capital. Salt Lake City, Utah-based Amedica makes spinal fusion implants using silicon nitride.
In a securities filing, the company states that its cervical interbody spinal fusion devices and thoracolumbar interbody spinal fusion devices are approved but its dental implant, femoral head for total hip replacement and femoral component for total knee replacement are not approved for sale in the U.S. or overseas.
Up to $14.1 million will be used for R&D purposes and clinical trials of products not yet approved, as well as in commercialization. The company expects that it had revenue of around $22 million in 2013.