OptMed, which is commercializing topical tissue adhesives used in surgery, filed on Wednesday with the SEC to raise up to $23 million in an initial public offering.
OptMed is a clinical-stage medical device company focused on the development and commercialization of novel surgical adhesives for the localized treatment of patients with external and internal wounds. The company's proprietary platform is based on a biocompatible polymer originally designed for drug delivery, which has been tested for biocompatibility and adhesion, including in wet environments. The pre-revenue company received FDA clearance for its BondEase product in 2015, but since then has worked to further improve the product while scaling up its manufacturing.
The New York, NY-based company was founded in 2007 and plans to list on the Nasdaq under the symbol OMED. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
