GenMark Diagnostics, which offers molecular diagnostic tests through its proprietary FDA-approved XT-8 System, filed on Friday with the SEC to raise up to $46 million in an initial public offering. The Pasadena, CA-based company was formed by Osmetech in February of 2010 and will become its parent company prior to the completion of the IPO. Osmetech booked $1 million in sales and a net loss of $20 million last year. GenMark Diagnostics plans to list on the NASDAQ under the symbol GNMK and use net proceeds for test development and sales and marketing initiatives. Piper Jaffray is the sole bookrunner on the deal, for which terms and timing were not disclosed.
