Elixir Pharma Pulls IPO

Elixir Pharmaceuticals Inc., a Cambridge, Mass.-based drug company focused on metabolic diseases like diabetes and obesity, has withdrawn registration for an $86.25 million IPO, due to “market conditions.” It had planned to trade on the Nasdaq, with Credit Suisse serving as lead underwriter.

 

The company has raised over $78 million in VC funding since 2000, from firms like MPM Capital (29.4% pre-IPO stake), Arch Venture Partners (16.4%), Oxford Bioscience Partners (10.4%), CDIB, Jafco Ventures and YFY Bioscience. www.elixirpharm.com