Nuvo Group, which is developing a remote platform for pregnancy care management, withdrew its plans for an initial public offering on Friday. The pre-revenue company originally filed in November 2021, and later set terms to raise $10 million by offering 0.7 million shares at a price range of $14 to $16.
Nuvo recently began to commercialize its 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 Tel Aviv, Israel-based company was founded in 2006 and had planned to list on the NYSE American under the symbol NUVO. Berenberg was set to be the sole bookrunner on the deal.
