Sancilio Pharmaceuticals, a lipid focused biotech, withdraws $86 million IPO

Sancilio Pharmaceuticals Company, which markets, licenses and develops products based on its lipid drug delivery technology, withdrew its plans for an initial public offering on Friday. It originally filed in August 2015 with a proposed deal size of $86 million.

The Riviera Beach, FL-based company was founded in 2006 and booked $25 million in sales for the 12 months ended December 31, 2015. It had planned to list on the Nasdaq under the symbol SPCI. UBS Investment Bank, Piper Jaffray, JMP Securities and FBR Capital Markets were set to be the joint bookrunners on the deal.