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…

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