EMulate Therapeutics, which is developing a non-invasive medical device that uses radio frequency energy, withdrew its plans for an initial public offering on Wednesday. It had most recently planned to raise $12 million by offering 2.3 million shares at a price range of $4 to $6, where it would have commanded an $80 million fully diluted market cap at the midpoint.
The Bellevue, WA-based company was founded in 2002 and had planned to list on the Nasdaq under the symbol EMTX. The Benchmark Company and Brookline Capital Markets were set to be the joint bookrunners on the deal.
