Company lists on Nasdaq, raising $11m to take patented resveratrol product into Phase 2 Parkinson’s trial.
Clinical stage biotech Jupiter Neurosciences has completed an initial public offering (IPO), raising $11 million for its mission to develop treatments for neuroinflammation using its proprietary resveratrol-based platform technology. The company has now commenced trading on the Nasdaq under the ticker symbol “JUNS“, with the funds raised primarily indicated to advancing its flagship product, JOTROL, into Phase 2 clinical trials for Parkinson’s disease.
Resveratrol, a natural compound produced by plants in response to injury or attack by pathogens, is well known in longevity circles for its antiaging potential, having shown it can extend lifespan in several preclinical studies. The compound has also demonstrated anti-inflammatory and anticarcinogenic properties, as well as showing potential to lower blood pressure, improve heart health and boost cognition.
According to Jupiter, JOTROL is designed to deliver a therapeutically effective dose of resveratrol into the bloodstream without causing the gastrointestinal side effects reported in trials of resveratrol treatments at higher doses. On its website, the company claims it has developed “the first and only resveratrol product that safely reaches therapeutic levels without GI-side effects.”
Jupiter’s scientific approach leverages existing safety data on resveratrol while aiming to overcome the bioavailability challenges that have historically limited its therapeutic application. In its Phase 1 studies, JOTROL demonstrated a favorable safety profile with no serious adverse events reported. Beyond Parkinson’s disease, the company’s pipeline indicates that JOTROL shows promise in addressing both rare diseases as well as more prevalent conditions like mild cognitive impairment (MCI)/early Alzheimer’s disease and traumatic brain injuries.
Jupiter was founded in 2015 and is based in Jupiter, Florida. The $11 million in in gross proceeds was raised through the sale of 2,750,000 shares of common stock priced at $4.00 per share, with additional allocations including expanding the company’s operations in Southeast Asia, R&D efforts, licensing fee payments, debt repayment and general corporate purposes.
