On Monday its Triangle biotech neighbor Biolex scored a $60 million venture investment after dropping plans for an initial public offering, and on Tuesday Durham's Aldagen also stepped away from public waters whipped by hurricane-force economic winds.
Triangle Business reported that Aldagen told the Securities and Exchange Commission on Tuesday that it would no longer go through with the IPO for which it had filed in May. Aldagen's new SEC filing this week said an IPO in current market conditions is "not in the best interest of the Company at this time."
Biolex, which has been expanding in its Pittsboro headquarters since receiving early funding help from the North Carolina Biotechnology Center, filed to go public in August 2007. But Biolex pulled that request earlier this year due to the unfriendly IPO environment. Instead, Biolex announced Monday that it had secured the whopping $60 million venture capital support for its technology to produce interferon and other drugs in the fast-growing pond plant commonly known as duckweed.
Research Triangle Park-based Talecris Biotherapeutics filed to go public in July 2007 but was instead purchased by Australia's CSL Ltd. for $3.1 billion.