The Johnson and Johnson, Dentsu and Koch Industries-backed diagnostics device developer priced its initial public offering in the middle of its range.

Cue Health, the US-based diagnostics testing technology developer backed by pharmaceutical firm Johnson and Johnson, chemical producer Koch Industries and marketing firm Dentsu, secured $200m in its initial public offering on Friday.

The company issued 12.5 million shares priced at $16.00 each, in the middle of the IPO’s $15 to $17 range. They closed at $20.00 on the first day of trading, giving it a market capitalisation of about $2.8bn.

Founded in 2010, Cue is developing portable diagnostic devices…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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