Life-sciences startup has withdrawn plans for an initial public offering.

Aldagen had planned to raise $80.5 million and trade its stock on the Nasdaq. The company has four potential drugs under clinical development.

Backed by regional venture capital firms Intersouth Partners, Aurora Funds and Trelys Funds along with Harbert Venture Partners and Tullis Dickerson, Aldagen closed on $18.4 million in venture financing in April.

Aldagen, which was launched under the name Stemco, announced a close of $9 million as part of a continuing “C” round last September. In December 2006, Aldagen secured $17 million in funding, including $3 million in debt financing. The company has raised some $65 million in venture capital.