Nuvo Group, which is developing a remote platform for pregnancy care management, filed on Tuesday with the SEC to raise up to $50 million in an initial public offering.
Nuvo is developing a hybrid hardware/software system, the INVU platform, that provides remote access to medical-grade data to all key participants in the pregnancy care ecosystem. The company recently begun to commercialize the INVU platform, which is currently cleared by the FDA for limited monitoring capabilities, though the company intends to seek clearance to extend its INVU monitoring period as well as report other measurements. In December 2020, Nuvo entered into its first commercial contract with obstetrician private practice Axia Women's Health, with a five-year term.
The Tel Aviv, Israel-based company was founded in 2006 and plans to list on the NYSE under the symbol NUVO. Cantor Fitzgerald, Ladenburg Thalmann, and Berenberg are the joint bookrunners on the deal. No pricing terms were disclosed.
