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Yeast infection biotech stays private: Viamet Pharmaceuticals withdraws IPO again

May 20, 2016

Viamet Pharmaceuticals Holdings, a biotech developing small molecule metalloenzyme inhibitors to treat fungal diseases, withdrew its plans for an initial public offering on Friday. It had filed to raise $86 million by offering 5.7 million shares at a price range of $14 to $16.

The biotech previously filed in 2014 to raise $75 million, but withdrew its offering when it raised money privately from ex-Elan CEO Kelly Martin and others.

The Durham, NC-based company was founded in 2004 had planned to list on the Nasdaq under the symbol VMET. Morgan Stanley and Goldman Sachs were set to be the joint bookrunners on the deal.