IPO Briefs

Predix Pharmaceuticals Holdings Inc., a Lexington, Mass.-based drug company focused on the central nervous system, has withdrawn registration for a proposed $70 million IPO, citing “unfavorable market conditions.” Predix raised more than $102 million from such firms as OrbiMed Advisors, Yozma Group, PA International, S.R. One Ltd., Forward Ventures, Boston Millennia Partners and CMEA Ventures.

Cbeyond Communications Inc., an Atlanta-based provider of managed IP-based communications services to small businesses in large metropolitan areas, has downsized its proposed IPO. The company now plans to offer about 6.1 million common shares at between $13 and $14 per share, compared to an original offering of 6.06 million shares at between $16 and $18 per share. It still plans to trade on the Nasdaq under ticker symbol CBEY. Cbeyond has raised more than $200 million in VC funding since its 1999 inception, with significant shareholders including VantagePoint Venture Partners, Battery Ventures, Cisco Systems, Madison Dearborn Partners, Metalmark Capital and Adams Street Partners. -D.P.