DermTech Withdraws IPO

La Jolla-based DermTech, a developer of diagnostic, gene-based testing for skin diseases, has withdrawn its IPO, saying in a filing with the SEC that it has determined not to proceed with an offering at this time. No other reason for the withdrawal was given by the company, which had filed for an IPO in May, DermTech had initially only targeted a fundraising of $25.0M on the NASDAQ as DMTK. The company is backed by angel investors, including Gary Jacobs and his firm, Jacobs Investment Company, as well as angels from the Tech Coast Angels.