Bioventus, which offers orthobiologics products for musculoskeletal conditions, withdrew its plans for an initial public offering on Tuesday. It had filed to raise $150 million by offering 8.8 million shares at a price range of $16 to $18.
The Durham, NC-based company was founded in 2012 and booked $266 million in sales for the 12 months ended March 31, 2016. It had planned to list on the Nasdaq under the symbol BIOV. J.P. Morgan and Piper Jaffray were set to be the joint bookrunners on the deal.
