Origin Life Sciences, which is developing a high-energy plasma medical device for dermal and wound care, filed on Monday with the SEC to raise up to $15 million in an initial public offering.
The Princeton, NJ-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Origin Life Sciences would command a fully diluted market value of $215 million.
Concurrently, selling shareholders have registered 0.8 million shares, which may be offered and sold from time to time pursuant to the separate resale prospectus.
Origin Life Sciences is developing a proprietary patented high-energy plasma device, called Ionojet, that generates a plasma/nitric oxide stream and delivers it to targeted locations of the body. Potential therapeutic uses for the stream include anti-infective, anti-inflammatory, and tissue-regenerative therapy for chronic wounds and skin and soft tissue infections. The company plans to seek premarket approval (PMA) of the Ionojet for the treatment of diabetic foot ulcers, assuming it is able to complete its planned pivotal trial and the data are favorable, and currently expects to submit its PMA application in the 2Q24.
Origin Life Sciences was founded in 2010 and plans to list on the NYSE American under the symbol OLSI. Boustead Securities is the sole bookrunner on the deal.
