Jupiter Neurosciences, a Phase 1 biotech developing an oral therapy for neuro-inflammation, raised $11 million by offering 2.8 million shares at $4, the low end of the range of $4 to $5.
Jupiter is developing a unique resveratrol platform product primarily targeting treatment of neuro-inflammation. The company believes its sole candidate, JOTROL, is being developed for various neuro and rare disease indications. JOTROL completed a Phase 1 safety and tolerability trial in March 2021, and Jupiter expects to commence Phase 2 trials subsequent to the IPO.
Jupiter Neurosciences plans to list on the Nasdaq under the symbol JUNS. Dominari Securities acted as sole bookrunner on the deal.
