Amedica, TranS1 File for Initial Public Offerings

PRECISION TECHNOLOGY NEWS

Amedica (Salt Lake City), a maker of spine, hip, and knee implants, filed with the Securities and Exchange Commission in July to conduct an initial public offering (IPO) of company shares. A few days later, TranS1 (Wilmington, NC), a firm focused on treating degenerative disk disease, made a similar filing.

Amedica said in its filing that it expects to make 4.7 million shares available to the public and raise about $57.8 million after expenses. That would initially price the shares between $13 and $15. The listing would occur on the NASDAQ stock market.

The firm uses silicon nitride ceramic technologies to develop a range of high-performance spine, hip, and knee implants. It does not yet have a product on the U.S. market but expects to have a spinal implant approved by mid-2008.

The company plans to use its net proceeds from the IPO to develop and commercialize its lead products and to build the company's sales, marketing, and distribution capabilities. Some of the money will also go to scaling up manufacturing capabilities and funding research and development.

In TranS1's filing, it indicated that it wants to raise as much as $80 million. The firm has developed a less-invasive procedure to treat degenerative disk disease, which affects the lower back. The firm would use the money raised to pay for further testing and marketing of its products.

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