Report: Infraredx pursues $55M IPO

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 - Pile of Money

Infraredx, whose intravascular near infrared spectroscopy (NIRS) technology showed promise in a recent study, has filed for an initial public offering (IPO), according to Renaissance Capital.

Results from the ATHEROREMO-IVUS (The European Collaborative Project on Inflammation and Vascular Wall Remodeling in Atherosclerosis–Intravascular Ultrasound) study suggested that NIRS may help cardiologists identify at-risk patients with coronary artery disease. The technology, which received FDA clearance in 2008, can detect lipid core-containing plaques in coronary blood vessels.  

Renaissance Capital reported on its IPO news site on Dec. 22 that Burlington, Mass.-based Infraredx had filed with the Securities Exchange Commission (SEC) for a public offering to raise up to $55 million. In its SEC filing, Infraredx listed revenues of $2.7 million for 2013 and revenues of $3.7 million for the nine months ended Sept. 30, 2014.

The listing on NASDAQ will be under the symbol REDX. The SEC filing is available here.