Advanced Biomed, a Taiwan-based diagnostics developer, is planning to raise up to $150 million in an initial public offering (IPO).
The company said it intends to list on the Nasdaq under the ticker symbol ‘ADVB’, according to documents filed with the Securities and Exchange Commission (SEC) on Monday.
The IPO is being managed by Univest Securities. Pricing terms for the offering were not disclosed.
Founded in 2014, Advanced Biomed has developed its own microfluidic technology platform and provides products and services to cancer patients, including early screening and detection, diagnosis and staging, treatment selection, and patient outcome interventions for cancer.
A holding company incorporated in Nevada, it is operated through Advanced Biomed Taiwan, which is responsible for the operation, design and development of the company’s technologies and products, and Advanced Biomed HK Limited, its first localized operation company focused on the Chinese market.
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