Zogenix Cancels IPO

Zogenix Inc., a San Diego-based drug company focused on pain management and CNS disorders, has withdrawn registration for an $86.25 million IPO, citing “general market conditions.”

The company recently secured an $18 million loan facility from Oxford Finance Corp. and CIT Healthcare.

It had previously raised $78 million in VC funding from Domain Associates (23.2% pre-IPO stake), Clarus Ventures (23.1%), Scale Venture Partners (15.4%), Thomas McNerney & Partners (13.2%) and Abingworth Ventures (10%). www.zogenix.com