Medical device developer Conexeu Sciences set to direct list on the Nasdaq on May 21
IPO Overview
Conexeu Sciences, a preclinical developer of a regenerative tissue device for wound care and aesthetics, filed a resale prospectus with the SEC stating that it expects its common stock to begin trading on the Nasdaq on or about Thursday, May 21, 2026, in connection with its direct listing.
The Reno, NV-based company is registering 9.5 million shares that may be sold by the Registered Securityholders identified in the prospectus. Conexeu Sciences will not raise new capital in its listing. In March 2026, Conexeu Sciences sold 486,970 shares at a price of $4.00 per share for gross proceeds of $1,947,880 pursuant to a private placement; at that $4 share price, the company would be valued at $84 million, excluding potentially dilutive securities.
Conexeu states that it has developed a proprietary platform built around a patented device candidate; CXU Scaffold, an extra cellular matrix （ECM） scaffold designed to support the body’s natural regenerative processes. This platform leverages a temperature-sensitive collagen-based solution that becomes a gel-like scaffold upon injection or application in the body, typically within about ten minutes. Conexeu claims that this scaffold supports cell growth, tissue integration, and faster healing. The company is conducting preclinical research for its device to be used as an injectable soft-tissue filler for facial indications, as well as wound care.
Conexeu Sciences was founded in 2022. It plans to list on the Nasdaq under the symbol CNXU. As a direct listing without a firm commitment underwritten offering, there are no underwriters on the deal; instead, H.C. Wainwright & Co. is serving as the company’s financial advisor.
About the Company
Conexeu is a company focused on building a new class of collagen-based regenerative tissue products. We are an early-stage medical device company formed to acquire and commercialize intellectual property （”IP”） developed over more than a decade at the University of British Columbia （the “University”） and the BC Professional Firefighters Burn and Wound Healing Laboratory. The Company’s only device candidate is the CXU? scaffold device candidate, which is in preclinical development and has not been approved or cleared for marketing in any jurisdiction. The Company is conducting preclinical research and preparing for regulatory engagement to evaluate potential use in wound care and other medical applications. Any potential benefits to patients, providers, or healthcare systems have not been established and will require further study and regulatory review. CXU? is a temperature-responsive, collagen-based extracellular matrix （”ECM”） formulation designed to transition from a liquid to a gel-like scaffold following topical application or injection, typically within approximately ten minutes （the “10 Minute Tissue?” concept）。 The device IP is protected by issued and pending patents and is being evaluated in preclinical studies for its ability to provide an ECM-like environment associated with cellular infiltration, vascularization, and organized tissue remodeling in non-clinical models.