The amount of shares of common stock included in the IPO and the price range remain undetermined. Irvine, California-based Beta Bionics filed to list its common stock on the Nasdaq market under the “BBNX” ticker.
BofA Securities, Piper Sandler and Leerink Partners serve as lead bookrunners for the proposed offering. Stifel acts as a bookrunner and Lake Street Capital Markets acts as co-manager for the proposed offering.
The IPO that would take the company public would mark the latest in a series of major milestones over the past couple of years for Beta Bionics. It also could be further evidence that IPOs are making a comeback in the medical device industry. Other medtech companies recently announcing IPO plans include medtech distribution giant Medline, transcatheter heart valve company Anteris Technologies, and neurotech company CeriBell.
Beta Bionics develops the iLet bionic pancreas, an automated insulin delivery system. The system, which streamlines diabetes management by reducing the burden on patients and physicians, received FDA clearance in May 2023.
iLet users can “go bionic,” requiring no carb counting or insulin correction calculations. Then, iLet determines 100% of the insulin doses throughout the day. The only input required to get started is the user’s weight.
In November 2024, the company announced that it raised $60 million in a Series E financing round. That added to the $100 million Series D financing Beta Bionics completed in August 2023.
Additionally, the company announced the 10,000th patient start on its iLet system in August 20224. Then, in October 2024, it announced that it launched the integration of iLet with the Abbott FreeStyle Libre 3 Plus.
