BG Medicine Cuts Range

BG Medicine Inc., a Waltham, Mass.-based developer of molecular diagnostics based on biomarkers, has cut its proposed IPO range from $14-$16 per share to $8-$10 per share. It still plans to offer 4.5 million common shares, and trade on the Nasdaq under ticker symbol BGMD. Cowen & Co. is serving as lead underwriter.

 

BG Medicine has raised around $37 million in VC funding since 2000, from firms like Flagship Ventures (57.5% pre-IPO stake), Gilde Investment Management (17.4%) and Koniklijke Philips Electronics (8%). www.beyondgenomics.com