ActivBiotics Inc., a Lexington, Mass.-based developer of antibacterials for high-value chronic and infectious diseases, has canceled its proposed IPO. No reasons were given in its filing with the SEC. ActivBiotics originally planned to price four million shares at between $12 and $14 per share, but later lowered its forecast to between $8 and $10 per share. HSBC was serving as lead underwriter.
ActivBiotitics has raised around $52 million in total VC funding since its 1996 inception, from firms like HealthCare Ventures, BioVentures Inv*stors, MDS Health Ventures, Delphi Ventures, China Development Industrial Bank, Canadian Medical Discoveries Fund, New England Partners and Vengrowth. www.activbiotics.com