Group 1 - Option Therapeutics, a biotechnology company focused on liver diseases, plans to raise up to $25 million through an IPO, offering 2.3 million shares at a price range of $10 to $12 per share [1][2] - The company is a spin-off from BioVie, which has shifted its strategic focus towards neurodegenerative diseases, particularly Alzheimer's and Parkinson's [2] - Option Therapeutics' core product, BIV201, is under evaluation for treating complications related to advanced liver cirrhosis and is currently in patent-pending status in multiple countries [1] Group 2 - The funds raised from the IPO will primarily support the critical Phase 3 clinical trials for BIV201, which has received Fast Track Designation from the FDA [1] - After the IPO, BioVie will retain majority voting power and control over Option Therapeutics, ensuring strategic alignment while allowing independent operations [2] - Option Therapeutics was established in 2025 and plans to list on the NYSE American under the ticker symbol OPTN, with ThinkEquity serving as the sole bookrunner for the transaction [2]