Vital Therapies postpones IPO
Liver company Vital Therapies Inc. (San Diego, Calif.) postponed its IPO due to market conditions, according to a Wall Streeter who asked to remain anonymous. Earlier this month, Vital amended its IPO and said it planned to sell 4.4 million shares at $16-$18. At the $17 midpoint, the company would have raised $74.8 million and been valued at $277.4 million. Credit Suisse; William Blair; Cowen; Canaccord; and BTIG are underwriters.
Vital's human liver cell-based extracorporeal liver assist device (ELAD) is in Phase III testing for liver failure. The device is a bio-artificial liver system comprising a cartridge of membranes separating immortalized human C3A hepatoblastoma cells from a patient's plasma, which circulates through the device. ...