9 July Rani Therapeutics, developing capsules for oral medication by swallowing, filed an application with the Securities and Exchange Commission to attract up to 100 USD million in initial public offering.
Rani Therapeutics is a clinical biotherapy company, promoting technology, allowing the production of biological products for oral administration, which, according to company representatives, can revolutionize medicine and improve patient outcomes. Rani Therapeutics has developed the RaniPill capsule, which is the company's own patented technology, intended to replace subcutaneous or intravenous administration of biologicals by oral administration.
The company is headquartered in San Jose, California, was founded in 2012 year and plans to list on the stock exchange Nasdaq under the ticker RANI. BofA Securities became the joint organizers of the share issue, Stifel, Cantor Fitzgerald и Canaccord Genuity. Terms of the upcoming IPO were not disclosed.