Jyong Biotech (MENS) investor relations material

Company overview and business model

• Science-driven biotech firm based in Taiwan, focused on developing and commercializing innovative plant-derived drugs for urinary system diseases, targeting the U.S., EU, and Asia markets.

• Operates through five wholly owned subsidiaries in Taiwan, Singapore, Hong Kong, and China; holding company structure in the Cayman Islands.

• Core pipeline includes MCS-2 for benign prostate hyperplasia/lower urinary tract symptoms (BPH/LUTS), PCP for prostate cancer prevention, and IC for interstitial cystitis.

• Integrated in-house capabilities span drug discovery, clinical trials, regulatory affairs, manufacturing, and commercialization.

Financial performance and metrics

• No revenue generated to date; net losses of $6.6M in 2022, $4.4M in 2023, and $1.3M for the six months ended June 30, 2024.

• Accumulated deficit of $31.4M as of June 30, 2024; net working capital deficit of $11.7M as of June 30, 2024.

• Cash and cash equivalents of $96K as of June 30, 2024; negative cash flows from operations in all reported periods.

• Research and development expenses were $1.3M in 2022, $1.1M in 2023, and $0.5M for the six months ended June 30, 2024.

• Auditor and management have raised substantial doubt about the company’s ability to continue as a going concern without additional funding.

Use of proceeds and capital allocation

• Estimated net proceeds of $17.8M (assuming $7.50/share IPO price) to be used as follows: 40% for additional Phase III trials and NDA of MCS-2, 25% for earlier phase trials if comparability is not demonstrated, 10% for Phase II trial of PCP, 5% for Phase I trial of IC, and 20% for general corporate purposes.

• Approximately 10% of proceeds allocated for possible settlement of litigation and commitments with Taizhou Resources Bureau.

• Proceeds will not be sufficient to fund all drug candidates through regulatory approval; additional $10M in capital will be needed.