NetGenics Withdraws Application for IPO

Sep 20, 2001

NEW YORK, Sept. 20 – Cleveland-based bioinformatics company NetGenics has withdrawn its proposed $60 to $70 million initial public offering in a filing with the Securities and Exchange Commission Thursday.

NetGenics said it was canceling the IPO due to market conditions, but reserved the right to sell shares in a private offering. The company had initially filed its S-1 statement in March 2000.

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