CardioMEMS Pulls IPO

CardioMEMS Inc., an Atlanta-based developer of wireless medical pressure sensors, has withdrawn registration for an $86.25 million IPO. The company said that the financing would have been “discretionary,” and that “terms currently obtainable in the public marketplace are not sufficiently attractive” to pursue an IPO at this time.  It had planned to trade on the Nasdaq, with Banc of America Securities serving as lead underwriter. CardioMEMS has raised around $52.6 million in total VC funding from firms like Arcapita, Easton Capital Partners, Boston Millennia Partners, Foundation Medical Partners, Medtronic, Inc. and Johnson and Johnson Development Corp.