Intersect ENT, which sells drug-eluting implants that maintain relief from chronic sinusitis after surgery, filed on Monday with the SEC to raise up to $80 million in an initial public offering. The company lists Medtronic (MDT) among potential competitors, while the company also owns a 7% stake in Intersect ENT. The Menlo Park, CA-based company, which was founded in 2003 and booked $23 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol XENT. Intersect ENT initially filed confidentially on May 2, 2014. J.P. Morgan and Piper Jaffray are the joint bookrunners on the deal. No pricing terms were disclosed.
