Hesperos, which provides a noninvasive multi-organ chip platform for drug development, filed on Wednesday with the SEC to raise up to $20 million in an initial public offering.
Operating as a contract research organization, Hesperos uses its noninvasive, serum-free, multi-organ chip platform (Human-on-a-Chip) to provide pre-clinical analytical services for drug discovery and general toxicology testing. Its services primarily focus on systems composed of human cells representing select organs, which can be configured based on customer needs. The company also offers four basic validated Human-on-a-Chip systems for disease modeling and drug testing: Heart-Liver two-organ model, Neuromuscular junction two-organ model, Heart-Liver-Cancer three-organ model, and Heart-Liver Skeletal Muscle Neuron four-organ model.
The Orlando, FL-based company was founded in 2015 and booked $5 million in revenue for the 12 months ended March 31, 2022. It plans to list on the Nasdaq under the symbol HESP. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
