TPG-Backed Biotech Virobay Inc. Withdraws $50 Million IPO

Virobay, an early-stage biotech with a drug platform for pain and autoimmune diseases, withdrew its plans for an initial public offering on Friday. The company originally planned to raise $50 million during the week of October 13.

Virobay's drug development platform is based on inhibiting cysteine cathepsins enzymes that are active in the biology of many diseases.

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