Salient Surgical Cancels IPO

Salient Surgical Technologies Inc. (f.k.a. TissueLink), a Dover, N.H.-based developer of technology for sealing blood vessels and other collagen-based structures, has withdrawn registration for an $86.25 million IPO. It had filed for the offering back in March, with Bear Stearns and Piper Jaffray serving as co-lead underwriters.

Salient had raised over $85 million in VC funding since 1999, with current shareholders including Americh Massena & Associates (40.5% pre-IPO stake), QuestMark Advisors (16.1%), Medtronic (8.8%), RiverVest Venture Partners (7.6%), Vanguard Ventures (5.9%) and Crescendo Ventures (5.2%).