Singulex Files for IPO
According to the filing, Singulex sells its test services in 28 US states and has received over 190,000 patient samples and performed 1,350,000 tests as of June 30. It is developing a second-generation system for which it plans to seek FDA clearance. The company’s life science products are used for research on efficacy, pharmacodynamics, pharmacokinetics, safety and biomarker discovery. (For the company’s financial results, see page 12.)
Washington, DC 9/28/12; Washington, DC 10/3/12—Singulex, a provider of immunoassay technology for measuring single-molecule changes in biomarkers, has filed with the US SEC for an IPO. The company intends to raise $86.3 million. In 2011, the company’s revenues grew 405% to $24.8 million, with cardiovascular disease (CVD) monitoring services accounting for 78% of revenues, life science products representing 14% and life science services representing 8%. The company’s Advanced CVD Monitoring services provide heart function, inflammatory, lipid and metabolic tests through a CLIA (Clinical Laboratory Improvement Amendments) certified laboratory, including a proprietary cardiac troponin-I assay, for routine physician monitoring. The company states that its immunoassay fluorescence detection platform can accurately and reproducibly monitor biomarkers at concentration levels of 0.1–1,000 pg/mL. As of June 30, the company had raised $64.3 million and had an accumulated deficit of $80.9 million.
