Intel-backed transplant surveillance technology company CareDx has raised $40m in its initial public offering.

CareDx, a US-based developer of diagnostics technology for heart transplant patients that counts semiconductor maker Intel among its investors, has raised $40m from its initial public offering.

The company issued four million shares priced at $10 each, below the $15 to $17 range it set earlier this week.

CareDx’s lead product AlloMap is a non-invasive blood test which enables doctors to discover if a heart transplant is being rejected by a patient. It is exploring whether the technology can also…