Levison originally planned to float shares in the company in November of last year.
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David Levison, founder and CEO of Palo Alto based CardioDx, who specialize in cardiovascular genomic diagnostics, has announced his decision to reinstate the Initial public offering (IPO) originally planned for November of last year, which he put on ice citing the unfavorable market conditions that prevailed at that time.
When the prospect of an IPO was initially raised, Levison was quoting as saying that he hoped to raise around $90 million, however this time around the company are keepimg mum on how much they hope to raise..
What the recent filing does show is a dramatic increase in turnover for CardioDX in their last full financial year of 2013, up 300% from 2012. One the downside, howver, the company’s losses increased by around 44 percent during the period, reaching $36.9 million.
CardioDX has already succeeded in raising in excess of $200 million in investor funding, led by V-Sciences Investments, a wholly owned subsidiary of Temasek Life Sciences which hold just short of twenty percent of shares in the company, followed by Menlo Park, California based life science investors Longitude Venture Partners, who hold 17.9 percent, Artiman Ventures with 13.9 percent, heavy duty venture capitalists, Kleiner Perkins Caufield & Byers with 9.5 percent and JPMorgan Direct Venture Capital and MDV-Revelation holding around five percent each of the shares.
David Levison graduated with an MBA from Stanford University later earning a Bachelor of Science degree from Williams College, in Williamstown, Massachusetts.
Levison began his professional career with the Cole Gilburne Fund, an early stage, technology focused venture capital firm, leaving them to join the Oncology Therapeutics Network , also serving as CFO of OTN’s parent company, Axion, from 1990 to 1993, leaving them in 1996, after the company was acquired by Bristol-Myers Squibb, one of the United States largest pharmaceutical companies,
After leaving Axion, David established iScribe, a healthcare technology company which was acquired by AdvancePCS in late 2001.
Before founding CardioDx in 2004, David spent some time as a Venture Partner at TPG Ventures.