Viventia Bio, a biotech developing novel antibody drug conjugates for bladder and other cancers, withdrew its plans for an initial public offering on Friday following its acquisition by Eleven Biotherapeutics (EBIO) in September 2016. Eleven paid approximately $13.5 million in newly-issued stock (when its shares traded at $3.37 (now $2.21) plus cash milestones and royalty payments. Viventia had originally filed in October 2015 with a proposed deal size of $86 million.
The Winnipeg, Canada-based company was founded in 1995. It had planned to list on the Nasdaq under the symbol VITA. Leerink Partners, Cowen & Company and Guggenheim Securities were set to be the joint bookrunners on the deal.
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