CVRx, a commercial stage provider of neuromodulation therapies for cardiovascular diseases, filed on Friday with the SEC to raise up to $75 million in an initial public offering.
CVRx manufactures and markets its minimally invasive neuromodulation solutions on its proprietary BAROSTIM platform, which targets imbalances of the autonomic nervous system, or ANS, which the company claims cause heart failure and other cardiovascular diseases. The company's second-generation product, BAROSTEM NEO, is the first and only commercially available neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction.
The Minneapolis, MN-based company was founded in 2000 and booked $7 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol CVRX. CVRx filed confidentially on April 9, 2021. J.P. Morgan, Piper Sandler, William Blair, and Canaccord Genuity are the joint bookrunners on the deal. No pricing terms were disclosed.
