• Audeo Oncology Inc., of San Francisco, set the price range for its proposed initial public offering of 3.3 million shares between $14 and $16. At the midpoint, the offering would raise $49 million, down from the $60 million the firm had hoped to raise when it filed its S-1 in July. Audeo, which spun out earlier this year with oncology assets from Alchermia Ltd., of Brisbane, Australia, is developing products based on hyaluronic acid chemotransport technology. Audeo is seeking a listing on Nasdaq under the ticker "AURX." (See BioWorld Today, July 10, 2012.)

• BioTime Inc., of Alameda, Calif., and subsidiary BioTime Acquisition Corp. (BAC) entered a nonbinding letter of intent for a $10 million investment from a private investor to provide financing for a proposed acquisition of stem cell assets from Geron Corp., of Menlo Park, Calif. Under the terms, the investor will invest $5 million in BioTime by purchasing 1.35 million shares, priced at about $3.70 apiece, and warrants to purchase 650,000 additional shares. The investor also will contribute $5 million in cash to BAC in exchange for shares of BAC common stock, plus warrants to buy an additional 350,000 shares. In the proposed deal with Geron, the former embryonic stem cell pioneer will contribute to BAC its intellectual property and assets related to its discontinued human embryonic stem cell programs. BioTime will put $5 million in cash into BAC, along with $30 million of BioTime common shares and warrants to purchase 8 million common shares of BioTime. BAC also will have rights to use certain human embryonic stem cell lines and a minority stake in two of BioTime's subsidiaries. Upon completion of the transaction, Geron stockholders would receive shares representing about 21.4 percent of the common stock of BAC, as well as warrants to purchase 8 million shares. BioTime would hold about 71.6 percent of BAC, while the private investor would hold about 7 percent. BioTime had been looking to acquire Geron's embryonic stem cell assets since that firm abandoned the field in 2011 in favor of developing a cancer drug pipeline.

• Radius Health Inc., of Cambridge, Mass., which delayed plans to price its initial public offering (IPO) earlier this month because of market closures due to Hurricane Sandy, has now withdrawn its S-1 filing, citing market conditions. The firm, which develops therapeutics for osteoporosis and women's health, filed for an IPO in February, aiming to raise $86.25 million. (See BioWorld Today, Feb. 8, 2012.)