iSpecimen, which provides an online marketplace platform for biospecimen procurement, filed on Thursday with the SEC to raise up to $21 million in an initial public offering.
The company hopes to accelerate life science research and development with a global marketplace platform that connects researchers to subjects, specimens, and associated data. Its current customer base is primarily comprised of three main segments: biopharmaceutical companies, in vitro diagnostic companies, and government/academic institutions. As of September 30, 2020, there were more than 3,500 external registered users on the iSpecimen Marketplace platform, representing more than 2,700 unique organizations.
The Lexington, MA-based company was founded in 2009 and booked $7 million in revenue for the 12 months ended September 30, 2020. It has yet to select an exchange or ticker (RC ticker: ISPN.RC). ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
