Philogen withdraws IPO after Bayer ends deal

Philogen S.p.A. (Siena, Italy) withdrew its IPO after Bayer AG (Xetra:BAY) terminated a 1999 cancer deal related to the Italian biotech's L19 antibody. Earlier this month, Philogen said it planned to raise up to EUR 65.3 million ($88 million) through the sale of up to 10.7 million shares at EUR 4.75-EUR 6.10 in an IPO on the Milan Stock Exchange. Banca IMI and UBS were underwriters. ...