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Jyong Biotech Ltd. (MENS), 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.