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The company is focused on developing and commercializing therapeutic and companion diagnostic products to treat inflammatory bowel disease.
The company focuses on tests for early cancer screening tests and offers two fecal immunochemical tests approved in China.
The firm offered 15,870,000 shares of its common stock, including 2,070,000 shares sold pursuant to the full exercise of the underwriters' option.
In an SEC filing, the firm said it intends to use the IPO proceeds to support manufacturing and establish a sales and marketing team, among other activities.
Ortho said it intends to use the net proceeds from the offering to redeem senior notes and repay borrowings under its dollar term loan facility, among other uses.
Talis, a point-of-care test developer, said that the principal purpose for the offering is to obtain additional capital to support its operations, among other purposes.
Ortho said it intends to use part of the net proceeds to repay borrowings under its dollar term loan facility and for working capital and general corporate purposes.
The company, which is developing instrument-free, low-cost molecular diagnostics platform for infectious disease testing, plans to float its shares on the Nasdaq.
In 2014, Ortho was acquired by private equity firm the Carlyle Group from Johnson & Johnson and became an independent organization with a focus on diagnostics.
Shares of the Boulder, Colorado-based firm will begin trading on the Nasdaq today under ticker symbol "BDSX" at $18 per share.