The storm over stents hits venture firms, as Devax yanks $85M IPO filing
Devax, a Lake Forest, Calif., maker of artery-opening stents, withdrew its filing for an IPO that the company estimated would raise $85 million. The company filed for its IPO in May, but until its withdrawal hadn’t filed any revisions to that preliminary document since.
The withdrawal is the latest bad news for stent makers. Big makers of the devices have been battered by a raft of sometimes contradictory studies that have nevertheless raised fears that stents… Continue Reading