BioTrove Cancels IPO

BioTrove Inc., a Woburn, Mass.-based maker of instruments and consumables for genomic analysis, high-throughput screening and molecular diagnostics, has withdrawn registration for a $75 million IPO, citing unfavorable market conditions. It had planned to trade on the Nasdaq, with Piper Jaffray and Lazard Capital Markets serving as co-lead underwriters.

BioTrove has raised over $43 million in VC funding since 2002, from firms like Catalyst Health & Technology Partners (35.1% pre-IPO stake), CB Health Ventures (17.1%), Vox Equity Partners (14.3%), Biofrontier Partners (6.1%), Fletcher Spaght Associates (6.2%) and Pfizer. www.biotrove.com

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