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Bio-Plexus

This article was originally published in The Gray Sheet

Executive Summary

Plans to go public via offering of 1,333,000 shares of common stock priced between $11 and $13, according to a prospectus filed with the Securities and Exchange Commission. The Tolland, Connecticut firm's first product, the Punctur-Guard safety needle for blood collection, was cleared by FDA in 1990 and launched in June 1993. The device "is the only safety needle on the market rendered safe prior to its removal from the patient," the firm claims. Bio-Plexus is working on two other Punctur-Guard devices including an IV catheter and "winged needle" IV set. The IV catheter is expected to enter clinicals in 1995; clinicals for the IV set will not begin until "after the development of the IV catheter is substantially complete," the company says.
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