SenoRx Inc., a medical device maker in Aliso Viejo, filed Thursday to raise up to $86.3 million in an initial public offering.
The company develops minimally invasive medical devices to detect and treat breast cancer. EnCor, its lead product, allows doctors to obtain multiple breast biopsy samples through a single probe insertion.
SenoRx received regulatory clearance for EnCor in 2004 and started selling it in November.
Venture investors in SenoRx include De Novo Ventures of Menlo Park, Domain Associates in San Diego and MPM Capital, which has offices in South San Francisco, Germany and Cambridge, Mass.
Banc of America Securities LLC, Citigroup, SG Cowen & Co. and First Albany Capital are the underwriters on the deal. The company plans to use proceeds for sales, marketing, research and development.
SenoRx isn’t profitable,it lost $8.6 million on sales of $19.3 million last year.
The company was established in 1998 and was known as BiopSolation Medical before changing its name to SenoRx. It had 94 employees as of the end of March, most in sales and marketing.
The company has applied to have its shares trade on the Nasdaq exchange under the ticker “SENO.”
