Cellular Dynamics Files for IPO
According to the filing, the target markets for Cellular Dynamics’ products include in vitro drug discovery, toxicity testing, chemical safety testing, stem cell banking, and in vivo and cell-based therapeutic research. The company’s customers increased from 60 in 2011 to 128 in 2012, with Eli Lilly and Company and GlaxoSmithKline accounting for 18% and 11% of revenues, respectively.
Madison, WI 6/4/13; Washington, DC 6/3/13—Cellular Dynamics filed a registration statement on June 3 with the SEC for an IPO of its common stock. The company sells true human cells and manufactures industrial quantities of multiple cell types, human iPS cells and custom products. The registration is pursuant to the provisions of the Jumpstart Our Business Startups Act of 2012, which places fewer reporting requirements on qualifying firms. The company plans to list its shares on the NASDAQ exchange under the symbol “ICEL.” The number of shares and price range have not yet been determined. In 2012, Cellular Dynamics revenues rose 153.4% to $6.6 million (see page 12), with product sales accounting for 79% of revenues. Net loss totaled $22.3 million in 2012. As of March 31, the company had an accumulated deficit of $87.8 million, and cash and cash equivalents of $28.5 million.
