LinkDoc Technology, a Chinese healthcare data company specializing in oncology patients, withdrew its plans for an initial public offering on Monday. It had filed in June 2021 to raise $200 million by offering 10.8 million ADSs at a price range of $17.50 to $19.50, but postponed in July.
The company cited market conditions in its withdrawal filing, stating that it is considering other alternatives. In September, LinkDoc was reportedly seeking private funding.
LinkDoc Technology provides a platform that structures cancer patient data to enable precision medicine and personalized care. The company's product suite includes a digital continuous care platform for patients with critical diseases, an AI-enabled curation system for longitudinal medical data, and a precision life sciences platform for clinical research.
The Beijing, China-based company was founded in 2014 and booked $154 million in revenue for the 12 months ended March 31, 2021. It had planned to list on the Nasdaq under the symbol LDOC. Morgan Stanley, BofA Securities, CICC, Tiger Brokers, and Snowball Securities were set to be the joint bookrunners on the deal.
