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

Core Viewpoint - Jyong Biotech Ltd. has successfully closed its initial public offering, raising approximately $20 million by offering 2,666,667 ordinary shares at a price of $7.5 per share, with shares trading on Nasdaq under the ticker symbol "MENS" [1][4]. Group 1: Offering Details - The offering was conducted on a firm commitment basis, with Joseph Stone Capital, LLC serving as the sole underwriter [4]. - The company has granted underwriters an option to purchase an additional 400,000 ordinary shares within 45 days to cover over-allotments [2]. Group 2: Use of Proceeds - The net proceeds from the offering 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, and 20% for general corporate purposes [3]. Group 3: Company Overview - Jyong Biotech Ltd. is a biotechnology company based in Taiwan, focused on developing innovative plant-derived drugs for urinary system diseases, targeting markets in the U.S., EU, and Asia [1][7]. - Established in 2002, the company has developed integrated capabilities across drug discovery, clinical trials, regulatory affairs, manufacturing, and commercialization [7].