Deal Details

Initial Public Offering

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Summary

About

BG Medicine (NASDAQ: BGMD) (the “Company”) recently completed an initial public offering of 5,750,000 shares of its common stock at a price of $7.00 per share, generating gross proceeds of $40.25 million. The Company intends to use the net proceeds to fund the commercial launch of its lead product, BGM Galectin-3, and the development of other diagnostic product candidates, in addition to possible acquisitions and other general corporate purposes.

BG Medicine is a life sciences company focused on the discovery, development, and commercialization of novel diagnostic tests that provide clinicians with improved information to better detect and characterize disease states and enable physicians to achieve better patient outcomes and contain healthcare costs. BG Medicine is focused on blood-based tests that the Company intends to sell through various channels, including through leading diagnostic instrument manufacturers that will offer BG Medicine’s tests as novel assays on their instruments. BG Medicine received 510(k) clearance from the FDA in November 2010 for its lead product, the BGM Galectin-3 test, which is currently being offered in the U.S. through Laboratory Corporation of America. This test is indicated for use in conjunction with clinical evaluation as an aid in assessing the prognosis of patients diagnosed with chronic heart failure.

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