BioForm targets $115m IPO (initial public offering) for product push:
This article was originally published in Clinica
Executive Summary
Plastic surgery specialist BioForm Medical has filed for an initial public offering that could boost funds by $115m. The firm is looking to finance the development of its Radiesse injectable dermal filler, which received FDA pre-market approvals in December 2006 for the treatment of facial lipoatrophy - facial fat loss - in patients with HIV and for cosmetic correction of wrinkles. The San Mateo, California-based company will also use a portion of the offering proceeds to gain US regulatory approval of its varicose vein treatment Aethoxysklerol (currently in Phase III clinical trials in the US) and BioGlue, a surgical adhesive for use in browplasty, which is in early-stage human trials. BioForm holds exclusive US distribution rights to Aethoxysklerol and exclusive US and Canadian distribution rights to BioGlue for medical aesthetic applications.