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

Rhea-AI Summary

Jyong Biotech Ltd., a Taiwan-based biotechnology company focused on plant-derived drugs for urinary system diseases, has announced the pricing of its IPO on the Nasdaq Global Market under the symbol MENS. The company is offering 2,666,667 ordinary shares at $7.50 per share, aiming to raise $20 million in gross proceeds. Trading will commence on June 17, 2025, with an additional over-allotment option of 400,000 shares. The proceeds will primarily fund Phase III trials of MCS-2 (40%), earlier phase trials (25%), Phase II trial of PCP (10%), Phase I trial of IC (5%), and general corporate purposes (20%). Joseph Stone Capital is serving as the sole underwriter for this firm commitment offering.

Positive

• IPO will raise $20 million in gross proceeds to fund clinical trials and operations
• Company has multiple drug candidates in development pipeline across different clinical phases
• Listing on Nasdaq Global Market provides access to broader investor base and capital markets
• Clear allocation strategy for proceeds with majority focused on advanced clinical trials

Negative

• Relatively small IPO size of $20 million may limit operational expansion
• Heavy dependence on success of MCS-2 with 40% of proceeds allocated to its development
• Single underwriter structure might affect trading liquidity
• Early-stage nature of some pipeline products (Phase I and II) indicates long path to commercialization

Insights

Biotech IPO Specialist

Jyong Biotech's $20M IPO provides runway for urinary disease pipeline but faces typical biotech commercialization risks with unproven candidates.

Jyong Biotech's $20 million IPO represents a modest capital raise for a biotech company with multiple clinical programs. Pricing at $7.50 per share for 2.67 million shares, the Taiwan-based firm gains Nasdaq visibility while securing critical funding for its plant-derived urinary system disease treatments.

The capital allocation strategy reveals clear priorities, with 40% ($8 million) dedicated to their lead candidate MCS-2's Phase III trials and new drug application. This suggests MCS-2 is their most advanced asset, though the need for 25% contingency funding for "earlier phase trials if unable to demonstrate comparability" indicates potential regulatory hurdles ahead.

The pipeline diversity shows progressive development stages: MCS-2 (Phase III), PCP (Phase II, 10% allocation), and IC (Phase I, 5% allocation). The 20% general corporate allocation provides operational flexibility but may be insufficient for long-term sustainability without additional financing rounds.

Notably, Joseph Stone Capital serving as the sole underwriter rather than a major investment bank suggests potential challenges in attracting tier-one institutional backing. The modest size and single-underwriter structure typically indicates a higher-risk profile compared to larger biotech IPOs with multiple underwriters.

While the company targets substantial markets (U.S., EU, Asia), investors should recognize that clinical-stage biotechs like Jyong face significant commercialization hurdles, with no guaranteed revenue stream until regulatory approvals and successful market launches. The plant-derived approach offers differentiation but requires rigorous efficacy and safety validation through the allocated clinical programs.

New Taipei City, Taiwan, June 16, 2025 (GLOBE NEWSWIRE) -- Jyong Biotech Ltd. (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 pricing of its initial public offering (the “Offering”) of 2,666,667 ordinary shares (the “Ordinary Shares”) at a public offering price of $7.50 per share. The Company expects to receive aggregate gross proceeds of approximately $20 million, before deducting underwriting discounts and other offering expenses. The Ordinary Shares have been approved for listing on the Nasdaq Global Market and are expected to commence trading on June 17, 2025 under the ticker symbol “MENS”. The Offering is expected to close on June 18, 2025, subject to the satisfaction of customary closing conditions. In addition, the Company has granted the underwriters an option (the "Over-Allotment Option"), 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 the Over-Allotment Option, if any.

The net proceeds from the Offering will be used 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 is being conducted on a firm commitment basis. Joseph Stone Capital, LLC is acting as sole underwriter for the Offering (the “Underwriter”). Sichenzia Ross Ference Carmel LLP is acting as U.S. securities counsel to the Company, and VCL Law LLP is acting 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, has been filed with the U.S. Securities and Exchange Commission (the “SEC“) and was declared effective by the SEC on June 16, 2025. The Offering is being made only by means of a prospectus. Copies of the prospectus related to the Offering may be obtained, when available, 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 prospectus relating to the Offering, when available, 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 expected trading of its Ordinary Shares on the Nasdaq Global Market and the closing of 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 the completion of the initial public offering on the anticipated terms or at all, 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

FAQ

When will Jyong Biotech (MENS) start trading on Nasdaq?

Jyong Biotech will begin trading on the Nasdaq Global Market on June 17, 2025, under the ticker symbol MENS.

How much money is Jyong Biotech (MENS) raising in its IPO?

Jyong Biotech is raising approximately $20 million in gross proceeds by offering 2,666,667 ordinary shares at $7.50 per share.

What is the IPO price for Jyong Biotech (MENS) shares?

The IPO price for Jyong Biotech shares is set at $7.50 per ordinary share.

How will Jyong Biotech (MENS) use its IPO proceeds?

The proceeds will be used for MCS-2 Phase III trials (40%), earlier phase trials (25%), PCP Phase II trial (10%), IC Phase I trial (5%), and general corporate purposes (20%).

Who is the underwriter for Jyong Biotech's (MENS) IPO?

Joseph Stone Capital, LLC is acting as the sole underwriter for Jyong Biotech's IPO.