Financings in Brief: Med-Design Corporation
This article was originally published in The Gray Sheet
Executive Summary
Med-Design Corporation: Files registration statement with the Securities and Exchange Commission for an initial public offering of 1.5 mil. shares of common stock, expected to be sold for between $6.50 and $7 per share. Based in Philadelphia, Med-Design is developing safety devices intended to lower the incidence of accidental needlesticks. The firm's first three products are a safety syringe, a safety phlebotomy set, and a safety catheter. Each product features a retractable needle that is rendered risk-free once therapy is delivered. The 11-employee company anticipates that FDA will determine all three products to be Class II devices and that 510(k)s for all three will be filed by the end of 1995.