Talis Biomedical, which is developing diagnostic tests for COVID-19 and other infectious diseases, filed on Friday with the SEC to raise up to $150 million in an initial public offering.
The company's testing platform, called Talis One, is being developed as a sample-to-answer, cloud-enabled molecular diagnostic platform. It is developing Talis One tests for respiratory infections, infections related to women’s health, and sexually transmitted infections. Talis plans to submit a request for an Emergency Use Authorization to the FDA for its Talis One platform with COVID-19 molecular diagnostic assay in January 2021. it also plans to initiate a clinical trial to support clearance of a 510(k) pre-market notification of its Talis One instrument with a test for chlamydia and gonorrhea in mid-2021, with the pre-market notification following in the 1H22.
The Menlo Park, CA-based company was founded in 2010 and booked $12 million in grant revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol TLIS. Talis Biomedical filed confidentially on October 15, 2020. J.P. Morgan, BofA Securities and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
