Invea Therapeutics, a clinical-stage biotech developing oral small molecules for inflammatory diseases, withdrew its plan for an initial public offering on Friday, citing market conditions. It had filed to raise $35 million by offering 3.2 million shares at a price range of $10 to $12.
The Guilford, CT-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol INAI. ThinkEquity was set to be the sole bookrunner on the deal.
