BG Medicine outlines $80M IPO to fund expansion

BG Medicine, which is in the business of biomarker discovery and diagnostic testing, has filed for an $80 million IPO. BG, which lost $1.5 million in the quarter ended March 31, says it will use the money for discovery and development activities. That includes "expanding and enhancing laboratory infrastructure and acquiring clinical samples, licensing or acquiring additional product candidates or technologies, and establishing infrastructure to commercialize product candidates."

- see BG's release on the IPO
- read the AP report