Tobira Therapeutics, a biotech developing an immunotherapy treatment for liver disease (NASH) and HIV, withdrew its plans for an initial public offering on Monday.
The biotech originally set terms to raise $60 million at a $150 million valuation in July 2014, but it postponed the IPO. In January, Tobira announced that it would merge with Regado Biosciences (NASDAQ: RGDO), a biotech that IPO'd in June 2013. The combined company now trades as Tobira Therapeutics (NASDAQ: TBRA) with a market cap of about $350 million.
The San Francisco, CA-based company was founded in 2006. It initially filed confidentially on May 5, 2014. Leerink Partners was set to be the sole bookrunner on the deal.
