Plymouth-based Kips Bay Medical Inc. raised $16.5 million in its initial public offering on Feb. 18, according to an Associated Press report in Bloomberg.
That amount is lower than the $21.2 million originally expected--and far lower than expectations of $57.5 million announced in April 2010, writes Dan Haugen in a Feb. 4 MedCity News article.
The company's product, eSVS Mesh, is used to reinforce leg veins during coronary artery bypass surgery.