Medical Device Company Trans1 Files For IPO

Trans1 (TSON), a spinal-surgery device company based in Wilmington, NC, has filed to raise up to $80.5 million in an initial public offering of stock. The company, which hopes to be known as “TSON” on the Nasdaq exchange, did not reveal how many shares it would offer or how much it would charge.

Founded in 2000, Trans1 is a 60-person firm that makes surgical devices for treating degenerative disc disease affecting the lower lumbar region of the spine. The company’s AxiaLIF product is a percutaneous access and fusion system that enables lumbar fusion to be performed with complete preservation of the annulus and all paraspinal soft tissue structures. This video shows how it works.

TranS1 is also developing two mobility platforms: a disc replacement and prosthetic disc nucleus, both delivered through the same percutaneous, trans-sacral approach. According to The News & Observer, TranS1 plans to use the money raised in the IPO to pay for further testing of these products.

Lehman Brothers, Piper Jaffray, Cowen and Company, and Leerink Swann & Co. will underwrite the offering, according to a statement issued by Trans1.