NovaCardia Pulls IPO

NovaCardia Inc., a San Diego-based drug company focused on cardiovascular disease, has withdrawn registration for an $86.25 million IPO. The move was expected, based on a recent announcement that NovaCardia would be acquired by Merck & Co. (NYSE: MRK) for approximately $350 million. NovaCardia had raised nearly around $88 million in VC funding since its 2001 formation, from firms like Domain Associates (24.9% stake), Forward Ventures (15.6%), InterWest Partners (10.4%), Skyline Venture Partners (15.3%), Versant Ventures (13.6%) and Montreaux Equity Partners (12.5%).