OptMed Inc, a privately held medical device company engaged in the commercialization of a line of surgical adhesives, revealed that it had spiked its plans for an initial public offering (IPO) this week.
The New York-based company had originally filed for an IPO in June 2022 with a proposed deal size of $23 million.
OptMed had planned to list on the tech-dominated Nasdaq under the ticker symbol ‘OMED.’
EF Hutton was set to be the sole bookrunner on the deal.
OptMed’s broad line of surgical adhesives is based on its unique platform polymer chemistry called methylidene malonate. The company’s BondEase Topical Skin Adhesive, OptMed’s first clinical indication, has received marketing clearance from the Food and Drug Administration.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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