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Concentric Medical Files for IPO

Concentric Medical Inc., a Mountain View Calif.-based developer of medical devices for restoring blood flow in people who have suffered ischemic strokes, has filed for a $69 million IPO. It plans to trade on the Nasdaq under ticker symbol CLOT, with Merrill Lynch and Lehman Brothers serving as co-lead underwriters. The company has raised around $53 million in VC funding since 1999, from firms like New Enterprise Associates (20.3% pre-IPO stake) H&Q Capital Management (16.2%), SV Life Sciences (9.5%), Oxford Bioscience Partners (9.5%) and ProQuest Investments (13.9%).