Lumena Pharmaceuticals, a clinical-stage biotech developing candidates for rare liver diseases including NASH, withdrew its plans for an initial public offering on Tuesday. It originally filed in April 2014 with a proposed deal size of $75 million. In May 2014, it agreed to be bought by the Irish pharmaceutical company Shire (NASDAQ: SHPG) for $260 million plus milestone payments. Shire, whose gastrointestinal division generated 16% of its $4.9 billion in 2013 revenue, is best known for its ADHD drugs Vyvanse and Adderall.
The San Diego, CA-based company was founded in 2011 and had planned to list on the Nasdaq under the symbol LIVR. Citi, Cowen & Company and Leerink Partners were set to be the joint bookrunners on the deal.
IPO Pro - "The Ultimate Resource for IPOs"
Don't risk buying another IPO without IPO Pro.
Get your FREE TRIAL now.
