Prenatal Tester Natera Now taking pictures for $175M IPO
Natera of San Carlos, CA, has bumped the fundraising purpose for its upcoming IPO to $ one hundred seventy five million, consistent with a document filed these days with the Securities and exchange commission. The maker of noninvasive prenatal diagnostics wants to sell 10 million shares between $ 17 and $ 18 each and every.
The providing, which may come as early as tonight, would mark some other publicly traded entrant in the quick-evolving box of consumer diagnostics. Natera raised $ fifty five million past this year to expand the promoting attain for its business check Panorama, which uses a pregnant girl’s blood to monitor for fetal abnormalities. the corporate is also working on a “liquid biopsy” for most cancers screening. Its model would use a affected person’s blood to find circulating tumor DNA.
Natera booked $ 159 million in earnings in 2014, with a $ 5 million web loss.
increasing its trade past prenatal trying out is an important for Natera, which is dealing with broad competitors from higher firms. as an instance, Ariosa Diagnostics, a rival of Natera in the prenatal container, used to be planning an IPO remaining year that would have given it a $ 323 million market worth, nevertheless it used to be first bought by means of Roche. Sequencing massive Illumina (NASDAQ: ILMN), by means of its acquisition of Verinata well being in 2013, and Sequenom (NASDAQ: SQNM) each provide prenatal trying out merchandise.
Sequoia Capital is Natera’s largest shareholder, with 20.2 p.c possession, followed by means of Claremont Creek (19.3 p.c), CEO Matthew Rabinowitz (14.3 %), Lightspeed challenge companions (10.four %), and Sofinnova Ventures (6.1 p.c).
Natera would change on the Nasdaq underneath the symbol NTRA. the corporate has allotted 1.5 million additional shares for its underwriters to promote within the 30 days after the IPO.
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