Fluidigm – Biotech IPOs of 2011

Posted under Biotech IPO, Blog, Companies, Diagnostics, Fluidigm, Funding, Medical Devices, Medical Supply, Pharmaceuticals, Startups, Universities, Videos by Maureen Martino

Company: Fluidigm ($FLDM)
Based: South San Francisco
Raised: $75.6M (5.6M shares at $13.5)
Target range: $13.50 to $15.50
Current price: $12.62

Scoop: Founded in 1999, Fluidigm earned a spot on the very first Fierce 15 list for its groundbreaking microfluidics products that promised to help researchers analyze human genome data. The company markets three microfluidic systems designed to improve the precision of lab tests, simplify workflow, increase throughput and reduce costs, according to its website.

Fluidigm first attempted an $85 million IPO in 2008 but was forced to withdraw its offering due to "historic instability in the market." But the developer made a go of it in February, selling 5.6 million shares for $13.50 each, pricing at the low end of its range. The bulk of the financing will be used for marketing and R&D purposes, with the remainder earmarked for debt repayment.