WILMINGTON – TranS1, a medical device company, is aiming to raise $88.55 million in a stock offering, and the company wants to start lining up interest “as soon as practicable.”

In a filing with the Securities & Exchange Commission on Friday, TranS1 raised the target for its initial public offering from a previous target of $80.5 million set in July.

TranS1 wants to sell 5.5 million shares at between $12 and $14 per share, according to the SEC filing.

The firm wants to trade its stock on the Nasdaq under the symbol TSON.

TranS1 has secured four high-profile underwriters for the offering – Lehman Brothers, Piper Jaffray, Wachovia Securities and Cowen and Company.

The company has raised some $40 million in venture funding since it was launched in 2000. Backers include Advanced Technology Ventures, Delphi Ventures, Cutlass Capital, Sapient Capital and Thomas Weisel Healthcare Venture Partners.

TranS1 has developed a device for treating degenerative disc disease that requires minimally invasive surgery.

Richard Randall, chief executive officer of TranS1, also has been an executive with Incumed and Innovasive Devices as well as Target Therapeutics.