PREDIX WITHDRAWS IPO BID

Predix Pharmaceuticals Inc. has withdrawn its initial public offering, citing market conditions as a cause. The Lexington company, which is developing drugs using computer modeling, was slated to raise as much as $70 million the week of Oct. 17 through an IPO. On Wednesday, the company said in a statement that market conditions forced it to pull back. President and CEO Michael Kauffman said the company will continue to focus on clinical development of its three lead products to treat general anxiety disorder, pulmonary arterial hypertension and Alzheimer's disease.

Boston Business Journal (http://boston.bizjournals.com/boston/stories/2005/10/24/daily45.html)