Kips Bay Medical, a medical device company developing vein support technology to be used in coronary artery bypass grafting (CABG) surgery, filed on Thursday with the SEC to raise up to $58 million in an initial public offering. The Minneapolis, MN-based company, which was founded in 2007 and has yet to generate product revenue, plans to list on the NASDAQ under the symbol KIPS. Jefferies & Co. is the lead underwriter on the deal, for which pricing terms and timing were not disclosed.
