ChemoCentryx Cancels IPO

ChemoCentryx Inc., a Mountain View, Calif.-based developer of oral drugs for autoimmune diseases, inflammatory diseases and oncology, has withdrawn registration for a $57.5 million IPO, citing “market conditions.” The company had planned to trade on the Nasdaq, with Credit Suisse serving as lead underwriter.

ChemoCentryx recently raised $50 million from existing investor GlaxoSmithKline, at a higher valuation than on its Series D round in March 2007 ($30m round at a $188m post-money). Overall, the company has raised around $155 million from GSK, OrbiMed Advisors, HBM BioVentures, Alta Partners, HealthCap and GIMV.

Leave a Reply

PE HUB Community

Join the 12525 members of PE HUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget