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BG Medicine Announces Decision to Withdraw IPO


1/24/2008 9:01:08 AM

WALTHAM, Mass.--(BUSINESS WIRE)--BG Medicine, a medical diagnostics company, announced today that based on current market conditions, it has chosen not to proceed with its planned initial public offering at this time. The company has withdrawn its registration statement on Form S-1 as filed with the Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of such common shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About BG Medicine

BG Medicine is a life sciences company focused on the discovery, development and commercialization of novel molecular diagnostics based on biomarkers to improve patient outcomes and contain healthcare costs. BG Medicine discovers biomarkers and develops its diagnostic product candidates using its proprietary, versatile, and scalable technology platform which integrates and automates the precise measurement, analysis, characterization and interpretation of thousands of proteins, metabolites and nucleic acids collected from bodily fluids. This approach to biomarker discovery allows BG Medicine to pursue the most promising commercial opportunities because it is not constrained by biology or specimen type. BG Medicine is leveraging its technology platform in multiple biomarker initiatives and collaborations with major pharmaceutical companies, other healthcare organizations and the U.S. Food and Drug Administration. For additional information about BG Medicine, please visit http://www.bg-medicine.com.

Contact: BG Medicine Mark D. Shooman, 781-434-0265 Chief Financial Officer

Source: BG Medicine



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