Caltech spinout Talis Biomedical has raised more than $220m in an initial public offering on the Nasdaq Global Market.
Talis Biomedical, a US-based developer of molecular diagnostic tests for infectious diseases that was spun out of California Institute of Technology (Caltech), has priced its shares at $16 to raise more than $220m in its IPO.
The company issued 13.8 million shares and began trading on the Nasdaq Global Market on Friday, and shares surged nearly 74% on the first day of trading to close at $27.80. Talis is listed under the ticker symbol TLIS.
Founded in 2010, Talis Biomedical is working on rapid, low-cost molecular diagnostic tests that can be used at the point of care to detect infectious diseases such as covid-19.
It was spun out of the lab of Rustem Ismagilov, the Ethel Wilson Bowles and Robert Bowles professor of chemistry and chemical engineering and the director of the Jacobs Institute for Molecular Engineering for Medicine at Caltech.
Ismagilov was previously a researcher at University of Chicago…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
