Rules-Based Medicine Announces $90M IPO

Rules-Based Medicine, which develops and commercializes molecular diagnostic tests based on novel biomarker patterns, filed on Wednesday with the SEC to raise up to $90 million in an initial public offering. The Austin, TX-based company, which was founded in 2002 and booked $21 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol RULE. Jefferies is the lead underwriters on the deal, for which pricing terms and timing were not disclosed.