Tuesday, July 1, 2014

Ambrx Withdraws IPO

La Jolla-based biotechnology developer Ambrx has withdrawn its IPO, citing "current public market conditions" in a regulatory filing this morning. Ambrx was venture backed by Tavistock, Maverick Capital, Apposite Healthcare, Versant Ventures, 5AM Ventures, Roche, and Merck. The company had set an initial estimated IPO range of between $12.00 and $14.00 per share on June 11th, but apparently did not get the reception it desired from investors in its road show. Ambrx is developing protein therapeutics known as bio-conjugates.