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.
2 Comments
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Dan (Back Pain Sufferer) said:
Whatever you do, don’t exercise! If you exercise in the wrong way you will do more harm than good. I know I did and paid for it :(
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Leigh said:
Interesting info; and I agree that exercise isn’t always the best option. For joint pain, I’ve found that heating pads and a product called Joint Medic work for me.
3 Trackbacks
10:46 am
VentureBeat » Life sciences briefing: Friday, Sept. 28, 2007 said:
[...] yielding a maximum possible take of $88.6 million. See our earlier coverage of TranS1’s IPO here. For more stories on VentureBeat Life Sciences, click here.Tagged co:Durect, co:Imalux, co:Sagent [...]
10:46 am
VentureBeat » Life sciences briefing: Friday, Sept. 28, 2007 said:
[...] yielding a maximum possible take of $88.6 million. See our earlier coverage of TranS1’s IPO here. For more stories on VentureBeat Life Sciences, click here.Tagged co:Durect, co:Imalux, co:Sagent [...]
10:46 am
VentureBeat » Life sciences briefing: Wedneday, Oct. 17, 2007 said:
[...] TranS1 IPO exceeds estimated range, raises $95M for spinal-fusion devices — The Wilmington, N.C., maker of minimally invasive devices for spinal fusion priced its IPO shares at $15 apiece, above its expected range of $12 to $14, raising as much as $95 million on the sale of up to 6.3 million shares. The offering values the company at $281.6 million. Our previous coverage of the firm is here and here. [...]