Taiwan Liposome Co. Ltd. filed for an IPO of up to $50 million of its American depositary shares on the Nasdaq Global Market.

The Taipei, Taiwan-based clinical-stage specialty pharmaceutical company is offering ADSs that represent its common shares.

Certain of the company's existing shareholders or their affiliates may buy up to $25 million worth of ADSs at the public offering price.

The company intends to apply to list its ADSs on the Nasdaq Global Market under the symbol TLC. The company's common shares are currently listed on the Taipei Exchange.

Taiwan Liposome plans to use the proceeds from the IPO to fund the clinical development of its technologies and other ongoing research and development activities, working capital and other general corporate purposes.

Cantor Fitzgerald & Co., CLSA Ltd., H.C. Wainwright & Co. LLC, Janney Montgomery Scott LLC and Laidlaw & Co. (UK) Ltd. are acting as underwriters for the offering.