ZURICH/FRANKFURT, Sept 21 (Reuters) - Swiss medtech firm Implantica, specialising in products such as an implant for heartburn treatment, is starting preparations for a flotation on the Zurich stock exchange in coming months, people close to the matter said.
The privately-held company has mandated investment bank UBS to help organise the potential listing, they added.
Details on the size of the deal and the exact timing could not immediately be learned.
“Implantica regularly reviews available financing alternatives to finance the commercialization of its first implant, RefluxStop, and to accelerate the development of its pipeline,” a company spokeswoman said.
“This may include accessing the capital markets, various forms of alliances with potential partners or further private financing rounds.”
UBS declined to comment.
In August, Implantica said that it had received European approval for RefluxStop.
According to the company, 375 million people globally suffer from heartburn, while it expects the addressable market to reach 2.4 million operations yearly.
Implantica’s chairman Richard Fritschi is the former head of insulin pump supplier Ypsomed, while the ex-CEO of dental implants maker Nobel Biocare, Domenico Scala, also sits on the board of the company, which is led by founder Peter Forsell.
Switzerland has seen a flurry of stock market listings this year, including that of biotech company Polyphor and medical devices maker Medartis.
Separately, pharma group Novartis has announced a spinoff of its eye care unit Alcon to its shareholders. (Reporting by Oliver Hirt and Arno Schuetze Editing by Maria Sheahan)