BG Medicine, which markets a biomarker diagnostic test for heart failure and is developing others, lowered the proposed deal size for its upcoming IPO on Tuesday. The Waltham, MA-based company now plans to raise $33 million by offering 4.75 million shares at an estimated price of $7 per share, half the midpoint of its previously proposed price range of $13 to $15. The company had attempted to go public in December of last year before postponing the deal. BG Medicine, which was founded in 2000 and booked $1 million in sales for the 12 months ended September 30, 2010, plans to list on the NASDAQ under the symbol BGMD. Lazard Capital Markets is the lead underwriter on the deal, for which timing was not disclosed.
