Rani Therapeutics, which develops ingestible capsules for oral dosing of medication, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Rani Therapeutics is a clinical stage biotherapeutics company advancing technologies to enable the development of orally administered biologics, which they believe have the potential to transform medicine and improve patient outcomes. Rani Therapeutics has developed the RaniPill capsule, which is their novel, proprietary and patented platform technology, intended to replace subcutaneous or IV injection of biologics with oral dosing.
The San Jose, CA-based company was founded in 2012 and plans to list on the Nasdaq under the symbol RANI. BofA Securities, Stifel, Cantor Fitzgerald, and Canaccord Genuity are the joint bookrunners on the deal. No pricing terms were disclosed.
