Biotech's French exit: Advanced Accelerator Applications withdraws $75 million IPO

Advanced Accelerator Applications, a radiopharmaceutical diagnostics company developing its first therapeutic product, withdrew its plans for an initial public offering on Wednesday.

The company had originally set terms to raise $75 million in early February at a fully diluted market cap of $527 million.

The Saint Genis Pouilly, France-based company was founded in 2002 and booked $73 million in sales for the 12 months ended September 30, 2014. It had planned to list on the AAAP. Citi and Jefferies & Co. were set to be the joint bookrunners on the deal.