Silenseed, a biotech developing RNA interference cancer drugs and delivery systems, withdrew its plans for an initial public offering on Tuesday.
The company has first targeted pancreatic cancer for its combined RNA interference (RNAi) drug and delivery platform, which enables cancer therapies to be implemented directly into the core of solid tumors. Recent RNA biotechs Mirna Therapeutics (MIRN) and Benitec Biopharma (BNTC) both trade below their offer prices.
The Jerusalem, Israel-based company was founded in 2008 and planned to list on the Nasdaq under the symbol RNAI. Aegis Capital was set to be the sole bookrunner on the deal.
