Wednesday, September 3, 2008

Codexis Pulls IPO

Redwood City-based Codexis has pulled its upcoming IPO, saying in a filing with the SEC Tuesday that the firm is withdrawing its offering "due to current public market conditions." The firm, which has been trying to go to market since April of this year, was looking to raise up to $100M on the NASDAQ Global Market. Codexis is venture backed by Maxygen, Biomedical Sciences Investment Fund Pte Ltd, Shell Oil, CMEA Ventures, Pequot Capital, and CTTV Investments, the investment arm of Chevron. The firm's underwriters were Credit Suisse, Goldman, Sachs & Co., Piper Jaffray, RBC Capital Markets, and Thomas Weisel Partners LLC. Codexis developed catalysts used for the chemical and pharmaceutical manufacturing industry.