Chalmers University of Technology-founded baby ventilation monitor developer Monivent will join the Spotlight Stock Market in an IPO where 60% of shares have advance subscriptions in place.
Monivent, a Sweden-based acute neonatal ventilation monitor supplier based on Chalmers University of Technology research, today outlined plans for its SEK19.7m ($2.1m) initial public offering.
The offering will take place on the Spotlight Stock Market, with 60% of the shares allotted in advance to unnamed investors known to Monivent.
Monivent’s IPO officially kicks off on February 6, 2020 and will run over two weeks, closing on February 20.
Founded in 2013, Monivent is developing a non-invasive monitor that appraises air ventilation of newborn babies whose lungs are unable to supply sufficient oxygen at birth.
The device attaches to existing ventilators to provide real-time measurements during resuscitation, helping to reduce the risk of injuries and malfunctions.
An estimated 3 to 6% of neonatal babies are brought into a resuscitation facility for specialist intervention, Monivent says.
The IPO proceeds are set to drive the market launch of Monivent’s technology, and the company will also expand its production and partnership agreements.
Chalmers Ventures, the venture and incubation arm of Chalmers University of Technology, backed Monivent’s $343,000 round in 2015 alongside Almi Invest and undisclosed investors, two years before a round of undisclosed size involving Chalmers Ventures, Almi and Monivent’s founders.
