Caprion Pharmaceuticals withdraws IPO

By Jennifer Chiou

New York, July 27 - Caprion Pharmaceuticals Inc. announced that due to adverse market conditions it is withdrawing its initial public offering.

On May 5, the Montreal-based clinical-stage biotechnology company said it filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada.

GMP Securities LP and Orion Securities Inc. were to have lead managed the sale, with Canaccord Capital Corp., TD Securities Inc. and Versant Partners Inc. also in the syndicate.

Caprion is developing pharmaceutical products in the areas of infectious disease and oncology.

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