CapsoVision has filed to go public, with plans to raise up to $30 million to support the development of its swallowable capsule camera and screening programs for gastrointestinal diseases, cancers and internal bleeding.
The company’s CapsoCam Plus platform records a 360-degree, panoramic view of the interior of the body as it passes through the digestive tract—providing high-resolution images of the small bowel mucosa that can help diagnose ulcers, inflammatory diverticulitis and other conditions.
First launched in the U.S. in 2017, the device received a new clearance from the FDA in early January that opened up its use to children as young as 2. The CapsoCam can also be taken at home through a remote program, with no clinic visit needed, and it does not require the user to wear any extra recording equipment such as sensor belts or vests.
With its proceeds from its planned Nasdaq IPO—under the ticker “CV”—CapsoVision aims to add artificial intelligence programs for assisted lesion detection, and plans to pursue a new FDA clearance by the end of this year. It will also seek feasibility studies of its ability to identify the early signs of esophageal and pancreatic cancers.
In addition, the company is working on its next-generation CapsoCam Colon, a larger version offering an improved field-of-view, and designed to capture 3D data that can measure the size of potentially cancerous colorectal polyps.
In its prospectus filed with the SEC, CapsoVision said it plans to launch that system in mid-2026. The pricing terms of the IPO, meanwhile, have not been finalized.
The company estimated the size of the U.S. small bowel capsule endoscopy market at about $87 million, with predictions for it to grow to $126 million by 2030. The larger colon market, meanwhile, has been approximated at $213 million, reaching $311 million by the end of the decade.
CapsoVision said that it collected $11.8 million in revenue during the 2024 calendar year, up from $9.8 million the year before. Its annual net loss expanded during the same period, from $11.3 million to $19.9 million.