Seattle Biotech Intrinsic Medicine Withdraws $20.3M IPO Filing While Developing Human Milk Molecule Therapies

Seattle biotech Intrinsic Medicine, developing sugar-based molecules found in human milk for immune and gut health disorders, withdrew its IPO filing after planning to raise $20.3 million. The company, founded in 2018 and led by CEO Alex Martinez, is conducting preclinical programs for several conditions and planned a phase 2 trial in Australia for irritable bowel syndrome.