Friday, March 19, 2010

Genmark Diagnostics Files For IPO

Pasadena-based Genmark Diagnostics, a developer of a diagnostic biomarker detection system, has filed for an IPO, saying it is looking to raised up to $46.0M in an IPO on the NASDAQ Global Market. The firm said it is looking to trade as GNMK. The firm's IPO is being underwritten by Piper Jaffray and Leerink Swann. Genmark is backed by Gartmore Investmetn Ltd., Efficacy Capital, FMR, Schroders, and Ronin Capital. The firm reported revenues of $998K in 2009, and a loss of $19.9M in 2009. Genmark Diagnostics is a new firm formed out of Osmetech, plc, a corporation registered in England and Wales on the AIM, where the firm is delisting.

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