The former corporate venturing unit of US-based pharmaceutical company Quintiles is a backer of the UK-based oncology and critical care company, which was sold to Jazz Pharmaceuticals for $650m.

Last month, Enerkem amended its regulatory filing and said it would sell 7.25 million shares at between $17 and $19 each.

Separately, Mitsui's portfolio company BrightStar, a US-based provider of distribution and related services to the wireless device industry, has withdrawn its plans for a $300m flotation.

The company priced 7.76 million shares at $9 each, which was below the $10 $12 per share offering range, for an initial market capitalisation of about $240m.

Enerkem's slow-to-no IPO might frustrate venture capitalists but with such a business case for shifting a business model, using corporate venturing as a tool to help speed up or make the shift would appear to be a no-brainer for Waste Management at least.

Last month, Luca set the upper limit of its flotation range at $110.5m.

Rib-X had been expected to raise up to $80m with a market capitalisation of $212m.

The cellular network algorithm company which spun off from the Mobile Communications Group of the Vienna University of Technology in Austria, is sold ten years after being founded.

The US-based chip manufacturer buys Olaworks, which Intel Capital backed in 2007.

Biopharmaceutical company Clovis Oncology, backed by Pfizer, sells the shares following its initial public offering in November last year.