Codiak Biosciences has withdrawn its proposed offering citing unfavourable market conditions, delaying an exit for investors including Alexandria Real Estate Equities.
Codiak Biosciences, a US-based exosome therapeutics developer backed by life science real estate investment trust Alexandria Real Estate Equities, has withdrawn its plans for an $86.3m initial public offering.
Douglas Williams, chief executive of Codiak, cited unfavourable market conditions for the company’s decision. Codiak had filed for an IPO in April 2019 and was hoping to list on the Nasdaq Global Select Market.
Founded in 2015, Codiak is working on therapies for cancer, immune-based diseases, metabolic and fibrotic…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
