PolyPid, which is developing extended-release drugs to prevent surgical site infections, officially withdrew its plans for an initial public offering on Tuesday, after postponing the deal in March 2018. It had filed to raise $75 million by offering 3.3 million shares at a price range of $21 to $24.
The Petach Tikva, Israel-based company was founded in 2008 and had planned to list on the Nasdaq under the symbol POLY. Goldman Sachs, Cowen and Cantor Fitzgerald were set to be the joint bookrunners on the deal.
https://www.renaissancecapital.com/IPO-Center/News/62075/Surgical-infection-biotech-PolyPid-officially-withdraws-$75-million-IPO
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