Pillsbury Guides Medical Diagnostics Company Veracyte Through $75 Million IPO

Pillsbury corporate and securities partners Stanton Wong and Gabriella Lombardi and counsel Heidi Mayon advised Veracyte.

Aimed at reducing the number of surgeries needed, Veracyte developed the Afirma Thyroid FNA Analysis, a test that draws a small amount of material out of a thyroid nodule to determine if it is cancerous or benign. The company stated in its Securities and Exchange Commission filing that it believes “full adoption of Afirma would result in over $500 million in direct cost savings to the healthcare system over five years.”

Veracyte intends to use the proceeds to support its general operations as well as to further research and development related to the continued support of Afirma and the development of its pipeline.