Celladon postpones IPO

Gene therapy company Celladon Corp. (San Diego, Calif.) postponed its IPO, citing market conditions. Earlier this month, the company amended its IPO and said it planned to sell 5 million shares at $14-$16. At the $15 midpoint, the company would have raised $75 million and been valued at $256.6 million. Celladon first proposed to raise up to $86.3 million in an IPO last month. JPMorgan; Barclays; Stifel; and Wedbush PacGrow were underwriters.

Celladon's Mydicar is in the Phase IIb CUPID 2 trial to treat advanced heart failure (HF), with data expected mid-2015. The product is a recombinant adeno-associated viral (AAV) vector carrying the gene for sarcoplasmic reticulum ATPase Ca++ transporting cardiac muscle slow twitch 2 ( ATP2A2; SERCA2A) (see BioCentury, March 5, 2012). ...