Jyong Biotech, a commercial-stage Taiwanese biotech developing therapies for urinary diseases, filed on Thursday with the SEC to raise up to $40 million in an initial public offering.
Jyong Biotech is focused on developing and commercializing innovative and differentiated new plant-derived drugs, mainly specializing in the treatment of urinary system diseases, with an initial focus on the US, EU, and Asia markets. Its lead candidate, MCS-2, is a softgel containing patented active pharmaceutical ingredients of carotenoid chylomicrons that is being developed for benign prostate hyperplasia/lower urinary tract symptoms. The company filed an NDA for MCS-2 with the FDA in December 2021, which is still ongoing.
The New Taipei City, Taiwan-based company was founded in 2002 and plans to list on the Nasdaq under the symbol JYB. Jyong Biotech filed confidentially on March 16, 2023. Joseph Stone Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
