Mevion Medical Systems Withdraws $69 Million IPO

Nearly a year after filing plans to go public with a $69 million IPO, Mevion Medical Systems, Inc. has announced that it’s withdrawing the offering.

The Littleton-based life sciences firm, which sells proton therapy machines to treat cancerous tumors, had intended to expand marketing, manufacturing and global distribution of its device, as well as put money toward research and development with its public offering, announced in September 2014.

But in a filing submitted July 27, the company said the market wasn’t ideal for the public launch.

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