Inflammatory Disease Biotechnology Company Invea Therapeutics (INAI.US) withdraws $35 million IPO plan.

Biotechnology company Invea Therapeutics (INAI.US) developing oral small molecule drugs for inflammatory diseases withdrew its US IPO plan last Friday citing market conditions. The company had previously filed to offer 3.2 million shares at a price range of $10 to $12 per share, aiming to raise $35 million. Headquartered in Guilford, Connecticut, this company was founded in 2021 and planned to list on Nasdaq under the ticker symbol INAI. ThinkEquity was set to be the exclusive bookrunner for the transaction.