TranS1 aims to relieve lower-back pain with $80.5M IPO
TranS1, a medical-device maker focused on lower-back pain, filed to raise $80.5 million in an IPO. The company makes and markets two products for minimally invasive lumbar spinal fusion, a technique in which surgeons fix, or fuse, two or more vertebrae together in order to minimize the pain from worn-out spinal discs.
Although the company launched its first products in early 2005, it is still losing money. TranS1 posted a net loss of $9.5 million last year, and in the first quarter it lost $1.7 million, only slightly less than the $1.8 million it lost a year earlier.
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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.
