Step-Ups in DNA Chip IPOs
This article was originally published in Start Up
Companies focused on DNA chips have been perennial favorites of the IPO market, from Affymetrix Inc.'s $90 million IPO in April 1996 to Nanogen Inc.'s $64 million offering, Affymetrix, Hyseq Inc., Vysis Inc. and Nanogen Inc. all received pre-money valuations about 3-4 times the total amount paid in by private investors prior to IPO, and post-money multiples of about 4.5 to 5.5.
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