Glycotex withdraws IPO

Glycotex (North Ryde, Australia) withdrew its IPO in order to further advance development of its wound healing and tissue repair product candidates. The company intends to re-file a registration statement this year. Glycotex's MG3601 Glucoprime has completed a Phase II trial to treat chronic deep venous stasis ulcers. The company is evaluating plans for a Phase II/III or Phase III trial but could not say when it would start. In its S-1 in September, Glycotex said it expected to start a Phase III trial this year. ...