As a new filing with the Securities and Exchange Commission showed, Deerfield Management, a healthcare focused investment firm, managed by James E. Flynn, disclosed a new stake in Trivascular Technologies Inc (NASDAQ:TRIV), a company that began trading on April 16. The stake held by Deerfield amasses close to 632,700 shares, valued at almost $7.6 million.
Trivascular Technologies Inc (NASDAQ:TRIV) is specialized in production and sale of medical devices and technology for invasive treatment of abdominal aortic aneurysms. The company is currently conducting its IPO, during which it plans to sell a total of 6.5 million shares at a price of $12.00 apiece. The IPO price has been set below the price disclosed in one of the amendments to the S-1 form with the SEC, in which the company indicated a price of $15.00 per share.
Among the largest shareholders of the company, is New Enterprise Associates, which together with affiliates holds around 17.7%, followed by Delphi Ventures, which owns 14.2% together with its affiliates, among other investors which hold less significant positions.
Last week, Deerfield Management reported raising its exposure to Insmed Incorporated (NASDAQ:INSM), in which it now holds 3.04 million shares, equal to 7.75% of the outstanding stock. In fact, Mr. Flynn has been bullish on several companies since the beginning of the year, and reported increases in several of its holdings. At the same time the fund initiated positions in several healthcare companies, some of which also right after their IPO. One of them is Cara Therapeutics Inc. (NASDAQ:CARA), in which Deerfield disclosed ownership of 350,000 shares a couple of days after the company went public.