Devax Files For IPO

Lake Forest-based Devax, a developer of medical stent technology, filed for an IPO this morning, saying in a filing with the SEC that it is looking to raise up to $85M in an IPO on the Nasdaq Global Market. Devax is looking to list as DEVX on the exchange. The IPO is being underwritten by Bear, Stearns & Co. Inc., Thomas Weisel Partners LLC, CIBC World Markets, and A.G. Edwards. Major investors in the firm include HBM BioVentures AG, InterWest Partners, U.S. Venture Partners, RockCreek Partners, and Biosensors International Group. The firm last raised a round of venture funding in October of 2005, worth $32M.