NEW YORK Dec 4 Osmetech Plc OMH.L, a
U.K.-based maker of molecular diagnostic platforms, withdrew
its application for an initial public offering in the United
States, according to a regulatory filing on Tuesday.
Osmetech filed in September to sell 5.5 million American
depositary shares and expected proceeds of $44 million. The
company said it may undertake a private offering.
Osmetech, whose shares trade on the London Stock Exchange's
AIM Market, received clearance in July from the U.S. Food and
Drug Administration for one its instrument platforms, eSensor
XT-8 System, and planned to use the IPO proceeds to develop
tests for the system, according to its original filing.
The company bought its molecular diagnostics business from
Motorola Inc MOT.N in 2005, the filing said.
Osmetech is the 89th company to withdraw a U.S. IPO this
The IPO was to have been led by Lazard Capital Markets and
Canaccord Adams. Osmetech had planned to list its shares on the
Nasdaq stock market.
(Reporting by Phil Wahba; editing by John Wallace)