Jyong Biotech Ltd. closed its IPO, raising $20 million for drug development and trading on Nasdaq under "MENS."
Quiver AI Summary
Jyong Biotech Ltd., a Taiwan-based biotechnology company focused on developing innovative plant-derived drugs for urinary system diseases, announced the closing of its initial public offering (IPO) on June 18, 2025. The IPO raised approximately $20 million by offering 2,666,667 ordinary shares at $7.50 each, with trading commencing on Nasdaq under the ticker symbol "MENS." The company plans to allocate the proceeds for various clinical trials and general corporate purposes. Joseph Stone Capital, LLC served as the sole underwriter for the offering, which was registered with the SEC prior to its effective date on June 16, 2025. The company emphasizes its commitment to enhancing health through groundbreaking botanical drug candidates while cautioning investors about the risks associated with forward-looking statements regarding its future plans.
Potential Positives
- Completion of the initial public offering (IPO) generated approximately $20 million in gross proceeds, providing significant capital for future projects.
- The company's shares commenced trading on the Nasdaq Global Market under the ticker symbol “MENS,” enhancing visibility and credibility in the public market.
- The strategic allocation of proceeds from the IPO towards various clinical trials indicates a focused approach to advancing its drug development pipeline, particularly for MCS-2.
- The granting of an option to underwriters for additional shares could potentially raise more capital, demonstrating confidence in sustained investor interest.
Potential Negatives
- The company is heavily reliant on the success of its clinical trials, with a significant portion of proceeds allocated to Phase III trials, which may pose financial risk if the trials do not yield positive results.
- The press release highlights a high percentage (25%) of funding allocated for earlier phase trials if comparability cannot be demonstrated, indicating potential setbacks in drug development.
- Investors may view the necessity of funding for various phases of trials as a sign of uncertainty regarding the company's product efficacy and market readiness.
FAQ
What is Jyong Biotech Ltd. known for?
Jyong Biotech Ltd. specializes in developing innovative plant-derived drugs, focusing on urinary system diseases.
When did Jyong Biotech's shares begin trading on Nasdaq?
The Ordinary Shares of Jyong Biotech commenced trading on Nasdaq on June 17, 2025.
How much did Jyong Biotech raise in its initial public offering?
The Company raised approximately $20 million in its initial public offering of 2,666,667 ordinary shares.
What will the proceeds from the offering be used for?
The proceeds will fund clinical trials and general corporate purposes, including Phase III trials of MCS-2.
Who acted as the underwriter for the offering?
Joseph Stone Capital, LLC acted as the sole underwriter for Jyong Biotech's initial public offering.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
New Taipei City, Taiwan, June 18, 2025 (GLOBE NEWSWIRE) -- Jyong Biotech Ltd. (Nasdaq: MENS) (the “Company”), a science-driven biotechnology company based in Taiwan committed to developing and commercializing innovative and differentiated new drugs (plant-derived) mainly specializing in the treatment of urinary system diseases, with an initial focus on the markets of the U.S., the EU and Asia, today announced the closing of its initial public offering (the “Offering”) of 2,666,667 ordinary shares (the “Ordinary Shares”) at a public offering price of $7.5 per share for aggregate gross proceeds of approximately $20 million, before deducting underwriting discounts and other offering expenses. The Ordinary Shares commenced trading on Nasdaq Global Market on June 17, 2025, under the ticker symbol “MENS”. The Offering closed on June 18, 2025.
The Company has granted the underwriters an option, exercisable within 45 days from the date of the final prospectus, to purchase up to an additional 400,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover over-allotments, if any.
The Company intends to use the net proceeds from the Offering for (i) funding the additional Phase III trials of MCS-2 (API-2) and the new drug application of MCS-2 (40%); (ii) funding earlier phase trials if the Company is unable to demonstrate comparability (25%); (iii) funding the Phase II trial of PCP (10%); (iv) funding the Phase I clinical trial of IC (5%), and (v) general corporate purposes (20%).
The Offering was conducted on a firm commitment basis. Joseph Stone Capital, LLC acted as sole underwriter for the Offering (the “Underwriter”). Sichenzia Ross Ference Carmel LLP acted as U.S. securities counsel to the Company, and VCL Law LLP acted as U.S. securities counsel to the Underwriter, in connection with the Offering.
A registration statement on Form F-1 (File No. 333-277725) relating to the Offering, as amended, was previously filed with the U.S. Securities and Exchange Commission (the “SEC“) and was declared effective by the SEC on June 16, 2025. The Offering was made only by means of a prospectus. Copies of the prospectus related to the Offering may be obtained from Joseph Stone Capital, LLC by standard mail to Joseph Stone Capital, LLC, 585 Stewart Ave., Suite L60-C, Garden City, NY 11530, or via email at
corporatefinance@josephstonecapital.com
or by telephone at +1 (888) 302-5548. In addition, a copy of the final prospectus relating to the Offering, dated June 16, 2025, can also be obtained via the SEC’s website at
www.sec.gov
.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Jyong Biotech Ltd.
Headquartered in Taiwan, Jyong Biotech Ltd.is a science-driven biotechnology company committed to developing and commercializing innovative and differentiated new drugs (plant-derived), mainly specializing in the treatment of urinary system diseases, with an initial focus on the markets of the U.S., the EU and Asia. Since its inception in 2002, the Company has built integrated capabilities that encompass all key functionalities of drug development, including early-stage drug discovery and development, clinical trials, regulatory affairs, manufacturing, and commercialization. Leveraging strong research and development capabilities and a proprietary platform, the Company has been developing a series of botanical drug candidates, including its primary botanical drug candidate, MCS-2, another clinical-stage botanical drug candidate, and other preclinical-stage botanical drug candidates. The Company endeavors to develop and supply first-class innovative drugs to meet customers’ health needs and seeks to be a valuable business organization that is held in high esteem by the public.
For more information, please visit:
https://www.jyongbio.com/
,
https://jyongir.com/
Forward-Looking Statement
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, the Company's statements regarding the intended use of the proceeds from the Offering. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at
www.sec.gov
. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Underwriter
Joseph Stone Capital, LLC
(888) 302-5548
corporatefinance@josephstonecapital.com
Investor Relations
WFS Investor Relations Inc.
Janice Wang, Managing Partner
Email:
services@wealthfsllc.com
Phone:+1 628 283 9214
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
