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LDR’s IPO Bid, FDA OKs Give Spine Much Needed Adjustment

The spine device firm LDR filed to raise up to $69 million in an initial public offering just as it gained FDA approval for its Mobi-C cervical disc for one- and two-level indications. Device investors will keep a close watch on the IPO, as one has not been staged by a venture-backed spine start-up since 2007.

Medical device VCs have had to sit on the sidelines while biopharma VCs saw their start-ups make their way onto the public markets through initial public offerings of stock. But last month’s filing by LDR Holding Corp. could give device investors something to cheer about. No venture-backed spine start-up has staged a successful initial public offering in the US since TranS1 Inc. went public in 2007. [See Deal] The Austin, TX-based company, also known as LDR Spine, looking to end the drought, filed to raise up to $69 million from public investors. [See Deal]

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