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Inflammatory disease biotech Invea Therapeutics withdraws $75 million IPO

April 1, 2024

Invea Therapeutics, a preclinical biotech using AI to develop small molecules for inflammatory diseases, withdrew its plans for an initial public offering on Friday. It originally filed in October 2023 with a proposed deal size of $75 million.

The Guilford, CT-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol INAI. BofA Securities, Citi, and Truist Securities were set to be the joint bookrunners on the deal.