Metra Biosystems aims to raise $30 million in float
This article was originally published in Clinica
Executive Summary
One of a spate of spring public offerings from the medtech and diagnostics sector, Metra Biosystems (US) is taking the plunge after submitting its bone resorption tests to the US FDA for 510(k) approval in April and May. The Californian company intends to sell three million shares to raise about $30 million net at an assumed IPO offering price of $11 before the end of June. Proceeds will be used to expand marketing, manufacturing capacity and fund clinical studies.
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