1. In Vivo
  2. >>Business Strategy

Cracking Open the IPO Window for Pre-Commercial Device Companies

DexCom's is a bellwether IPO: if it holds its value, it could open the door for other pre-commercial device businesses. If it doesn't, it could keep it shut-as it's been since the class of 1995-96 device companies disappointed investors by missing their commercial targets.

One can only shake one's head in admiration. In December 2004, Warburg Pincus bought two-thirds, or $14.5 million worth, of DexCom Inc. 's $22.5 million Series D round, paying an as-converted price of $5.38 per share [See Deal]. Barely five months later, the glucose monitoring company went public, raising $50 million at $12 a share [200530066]. Since the April 13th offering, shares have lost a bit—but in a generally dismal market, they're holding their own. Granted the shares continue to do so for the 180-day lock-up period, Warburg will have more than doubled its money in about a year.

A nice, but not terribly unusual story of VC timing? Perhaps. But DexCom had been struggling to raise capital before...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business Strategy

Late-Stage GLP-1 Drug Trials Outside The Cardiometabolic Space

 
• By David Wild

A look at Novo Nordisk, Eli Lilly and other companies' late-stage clinical studies of GLP-1 drugs in indications ranging from neurodegeneration to oncology, and alcoholic liver disease to autoimmune conditions.

Rising Leaders 2025: Metsera’s Whit Bernard’s Musical Path To Biotech Leadership

 
• By David Wild

Metsera CEO Whit Bernard applies an unconventional leadership philosophy to develop next-generation obesity therapeutics, including monthly GLP-1 injections and oral peptides.

AI In Drug Discovery: The Patent Implications

 
• By David Wild

A Q&A with DeAnn Smith, partner and co-chair of the Patent Trial and Appeal Board Proceedings Practice Group at law firm Foley Hoag.

Is Advanced AI Revolutionizing Sales Enablement In Pharma?

 
• By Marina Hickson

Advanced AI is revolutionizing sales enablement by addressing training gaps and performance challenges. Used correctly, it can help to bridge the sales-marketing divide, accelerate ramp-up times and provide managers with data-driven insights.

More from In Vivo

AI In Health Delivery: Patients Most Confident When HCPs Are In Charge

 
• By Ashley Yeo

Annual survey of patients and professionals shows how attitudes to health system transformation are evolving and what stakeholders are demanding as acceptance of AI tools accelerates.

Medtech Innovators Court London-Based Investors At BioWales 2025

 
• By Ashley Yeo

BioWales in London 2025 showcased the efforts healthtech innovators are making to meet investors on their own turf, illustrating changing attitudes and evolving needs.

Rising Leaders 2025: Metsera’s Whit Bernard’s Musical Path To Biotech Leadership

 
• By David Wild

Metsera CEO Whit Bernard applies an unconventional leadership philosophy to develop next-generation obesity therapeutics, including monthly GLP-1 injections and oral peptides.