Origin Life Sciences, which is developing a high-energy plasma medical device for dermal and wound care, revised the terms for its upcoming IPO on Monday. In its latest filing, the company also disclosed financials for the three months ended March 31, 2023.
The Princeton, NJ-based company now plans to raise $15 million by offering 3 million shares at $5. The company had previously filed to offer the same number of shares at a range of $4 to $6. At the revised terms, Origin Life Sciences will raise the same amount in proceeds as previously anticipated.
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.
