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Akela Pulls IPO

Akela Pharma Inc., a Saint-Laurent, Quebec-based drug company focused on pain therapeutics, has withdrawn registration for a $36.6 million IPO, citing “unfavorable market conditions.”  The company currently trades on the TSX, but had filed for a listing on the Nasdaq. Lazard Capital Markets was serving as lead underwriter. Akela shareholders include Atlas Venture (8.5%), Great Point Partners (8.5%) and Sitra (6.64%). www.labinc.ca