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Firm lists on Nasdaq, elevating $11m to take patented resveratrol product into Section 2 Parkinson’s trial.
Scientific stage biotech Jupiter Neurosciences has accomplished an preliminary public providing (IPO), elevating $11 million for its mission to develop therapies for neuroinflammation utilizing its proprietary resveratrol-based platform know-how. The corporate has now commenced buying and selling on the Nasdaq underneath the ticker image “JUNS“, with the funds raised primarily indicated to advancing its flagship product, JOTROL, into Section 2 medical trials for Parkinson’s illness.
Resveratrol, a pure compound produced by vegetation in response to damage or assault by pathogens, is well-known in longevity circles for its antiaging potential, having proven it might probably prolong lifespan in a number of preclinical studies. The compound has additionally demonstrated anti-inflammatory and anticarcinogenic properties, in addition to displaying potential to decrease blood strain, enhance coronary heart well being and increase cognition.
In line with Jupiter, JOTROL is designed to ship a therapeutically efficient dose of resveratrol into the bloodstream with out inflicting the gastrointestinal unwanted side effects reported in trials of resveratrol therapies at larger doses. On its web site, the corporate claims it has developed “the primary and solely resveratrol product that safely reaches therapeutic ranges with out GI-side results.”
Jupiter’s scientific method leverages present security knowledge on resveratrol whereas aiming to beat the bioavailability challenges which have traditionally restricted its therapeutic utility. In its Phase 1 studies, JOTROL demonstrated a positive security profile with no severe antagonistic occasions reported. Past Parkinson’s illness, the corporate’s pipeline signifies that JOTROL reveals promise in addressing each uncommon ailments in addition to extra prevalent situations like gentle cognitive impairment (MCI)/early Alzheimer’s illness and traumatic mind accidents.
Jupiter was based in 2015 and relies in Jupiter, Florida. The $11 million in in gross proceeds was raised via the sale of two,750,000 shares of widespread inventory priced at $4.00 per share, with further allocations together with increasing the corporate’s operations in Southeast Asia, R&D efforts, licensing charge funds, debt compensation and basic company functions.
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