Domain, Versant Portfolio Firm Veracyte Hits IPO Market

Southern California venture capital investors Domain Associates and Versant Venture saw a public exit of one of their portfolio companies this morning, molecular diagnostics equipment maker Veracyte. Veracyte debuted on the NASDAQ Global Market this morning at $13.00 per share, and was trading slightly down at $12.95 this morning. Veracyte's other investors include Kleiner Perkins Caufield & Byers and TPG Biotech. Interestingly enough, Southern California's IPO activity in the last few months has almost been exclusively biotechnology and medical devices companies, with such companies as Sorrento Therapeutics, Aerie Pharmaceuticals, Vital Therapies, Celladon, Xencor, Tandem Diabetes, Fate Therapeutics, and Evoke Pharma all in some stage of an IPO in the last month.