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Braeburn Pharmaceuticals withdraws IPO

Braeburn Pharmaceuticals Inc. withdrew plans for an IPO due to uncertainty in the U.S. healthcare industry, Reuters reported.

The Princeton, N.J.-based company was looking to offer 7.7 million shares in the $18 per share to $21 per share range but will consider such a move at a later date.

Apple Tree Partners, a private equity and venture capital firm, is the sole shareholder of Braeburn Pharmaceuticals, which manufactures implants for opioid addiction.