TomoTherapy, cancer-treatment system maker, gets enthusiastic IPO reception
TomoTherapy, a Madison, Wis.-based maker of imaging and radiation-treatment systems for cancer therapy, raised $222.3 million in an initial offering after its shares priced higher than the company’s original range.
TomoTherapy shares, which now trade under the symbol TTPY, priced at $19, well above the company’s expected range of $15 to $17, yielding net proceeds to the company of roughly $185 million. The stock opened this morning at $24. TomoTherapy makes and sells integrated devices that provide radiation treatment for cancer guided by a built-in CT scanner.
Here’s the company’s announcement. TomoTherapy had previously raised approximately $79 million in venture capital from the likes of Venture Investors, Avalon Technology, the Endeavors Group, Open Prairie Ventures, Ascension Health Ventures and the Wisconsin Alumni Research Foundation, according to PE Wire.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.
