Tharimmune, Inc., a clinical-stage biotechnology company traditionally focused on developing therapies for rare immune, inflammatory, and oncologic diseases, has just announced its pivot into digital assets, raising approximately $540 million via a private placement led by proprietary trading firm DRW and crypto-focused venture capital firm Liberty City Ventures.
According to Tharimmune, Inc.’s announcement today, it has entered into subscription agreements with certain institutional and accredited investors in a private placement offering for the purchase and sale of shares of common stock at a price of $3.075 per share.
The arrangement is expected to aggregate gross proceeds of approximately $540 million, before deducting placement agent fees and other offering expenses.
DRW and Liberty City Ventures led the funding
Per the firm’s announcement, DRW and Liberty City Ventures were the lead investors. However, other prominent investors involved included ARK Invest, Bitwave, Broadridge, Clear Street, Copper, Digital Asset, Feynman Point Asset Management, Five North, Kaiko, Kenetic, Kraken, LendOS, Lukka, Nima Capital, MPCH, Obsidian Software, Polychain Capital, Proof Group, SBI Group, The Tie, Tradeweb Markets, and 7RIDGE.
The Canton Foundation, Canton Network’s governing body, also participated in the offering, making Tharimmune the first and only publicly traded company supported by the Canton Foundation.
The offering is expected to close on or about November 6, 2025, subject to the satisfaction of customary closing conditions, and net proceeds of the offering will be used to acquire Canton Coin (“CC”), a utility token used to support interoperability and settlement across the Canton Network, as well as for working capital and general corporate purposes.
Upon the closing of the offering, the company claims it will execute a diverse strategy that, along with CC acquisition via capital markets activities, includes the generation of CC rewards by applying to be a super validator and investing in the development of applications on the Canton Network that encourage institutional utility, scalability, and adoption across capital markets.
The strategy is being touted as Tharimmune’s confidence in Canton’s blockchain technology reshaping financial infrastructure.
Tharimmune, Inc. joins the ranks of medical firms with DATs
Crypto has been getting more popular among industries since it gained a foothold in the corridors of power. Tharimmune, a medically-focused company, is the latest rebranding to buy crypto.
Helius Medical Technologies, another neurotech medical device company focused on treating different neurological deficits, also pivoted into a digital asset treasury in September. TNF Pharmaceuticals, another clinical-stage research company, also announced a complete strategic pivot and rebrand to Q/C Technologies.
As part of the Helius rebranding, the company announced it would create a digital asset treasury (DAT) centered around SOL purchases after raising $500 million dedicated to funding its cryptocurrency treasury strategy.
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