Bayhill Therapeutics withdraws IPO plans

WASHINGTON, June 27 Fri Jun 27, 2008 5:07pm EDT

WASHINGTON, June 27 (Reuters) - Bayhill Therapeutics Inc filed on Friday to withdraw its plans for an initial public offering, citing unfavorable market conditions.

The company had filed with the U.S. Securities and Exchange Commission in January to raise up to $86.25 million in the offering. (Reporting by Karey Wutkowski)