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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Insulet proposes $107 mil. IPO: Maker of the OmniPod insulin management system proposes initial public offering, comprising 6.7 million common stock shares at $14 to $16 each and valued at up to $107 million. Proceeds are tabbed for expansion of manufacturing capacity and marketing activities, plus R&D. About 1,750 U.S. patients with diabetes use OmniPod. Cleared via 510(k) in January 2005 and launched in the United States that October, OmniPod includes a small insulin infusion pump that adheres to the skin and can be worn under clothing, and a handheld, wireless programmer that incorporates a blood glucose meter (1"The Gray Sheet" June 6, 2005, p. 16). The Bedford, Mass., firm generated sales of $3.7 million in 2006 and has an accumulated deficit of $102 million. Underwriters include JP Morgan Securities, Merrill Lynch, Thomas Weisel Partners and Leerink Swann & Company...
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Insulet Will Unveil Its OmniPod Insulin Management System In August
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