Pulse Biosciences registers for $20m IPO

Pulse Biosciences, which is developing pulsed electric field technology to treat solid tumors, last week filed for an initial public offering worth $20 million

Burlingame, Calif.-based Pulse said it plans to float 5 million shares at $4 apiece, for a fully diluted valuation of $51 million.

The company is developing “nano-pulse electro-signaling,” in which extremely short-duration pulsed electrical fields are directed at the tumors. It’s designed to induce a type of programmed cell death called immunogenic apoptosis, which can trigger the body’s immune response to find and kill other cells of the same type.

“We believe we are the only medical device company with the intellectual property, technology, and know-how to be able to produce this natural cell death using NPES to initiate cell signaling that induces the targeted adaptive immune response,” Pulse Biosciences said in the IPO filing.

Other ablation technologies use extreme heat or cold, high-energy radiation or longer-pulse electrical fields to induce cellular necrosis, the company said.

“We believe NPES differs significantly as it offers a non-thermal and non-ionizing ablative technology that can be selectively tuned to induce apoptosis, reducing the potential for inflammation and collateral damage to surrounding tissue. We believe that this less destructive approach lends itself to a number of applications including tumors which would otherwise be inoperable because of proximity to critical structures,” the company said.

Pulse, formed in November 2014 via the roll-up of ThelioPulse and sister companies BioElectroMed and NanoBlate, is still in the development phase. It posted 2014 losses of $1.0 million, or 13¢ per share, according to the Dec. 22 filing.

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