Jyong Biotech Ltd. Announces Pricing of $20 Million Initial Public Offering

Company Overview - Jyong Biotech Ltd. is a science-driven biotechnology company based in Taiwan, focused on developing and commercializing innovative plant-derived drugs, primarily for urinary system diseases [6] - The company has been operational since 2002 and has built integrated capabilities across drug development, including discovery, clinical trials, regulatory affairs, manufacturing, and commercialization [6] Initial Public Offering (IPO) Details - The company announced the pricing of its IPO, offering 2,666,667 ordinary shares at a public offering price of $7.50 per share, expecting to raise approximately $20 million in gross proceeds [1] - The ordinary shares have been approved for listing on the Nasdaq Global Market under the ticker symbol "MENS," with trading expected to commence on June 17, 2025 [1] - The IPO is set to close on June 18, 2025, pending customary closing conditions [1] Use of Proceeds - The net proceeds from the IPO will be allocated as follows: - 40% for funding additional Phase III trials of MCS-2 and its new drug application - 25% for earlier phase trials if comparability cannot be demonstrated - 10% for the Phase II trial of PCP - 5% for the Phase I clinical trial of IC - 20% for general corporate purposes [2] Underwriting and Legal Counsel - Joseph Stone Capital, LLC is acting as the sole underwriter for the IPO [3] - Sichenzia Ross Ference Carmel LLP and VCL Law LLP are serving as U.S. securities counsel for the company and the underwriter, respectively [3] Regulatory Filings - A registration statement on Form F-1 has been filed with the U.S. Securities and Exchange Commission (SEC) and was declared effective on June 16, 2025 [4] - The offering is being made only by means of a prospectus, which will be available through the underwriter and the SEC's website [4]