Codiak Biosciences has withdrawn its proposed offering citing unfavourable market conditions, delaying an exit for investors including Alexandria Real Estate Equities.

Codiak Biosciences, a US-based exosome therapeutics developer backed by life science real estate investment trust Alexandria Real Estate Equities, has withdrawn its plans for an $86.3m initial public offering. Douglas Williams, chief executive of Codiak, cited unfavourable market conditions for the company’s decision. Codiak had filed for an IPO in April 2019 and was hoping…

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