Tharimmune raised $540 million in a private placement to launch a digital asset treasury strategy centered on Canton Coin. The Nasdaq-listed biotech company announced the funding round on Monday.
Tharimmune makes $540M bet on Canton Coin in crypto treasury push The biotech company's pivot into digital assets marks one of the largest treasury financings to date, underscoring growing institutional demand for tokenized finance. pic.twitter.com/v08EmmnYnj
— Oya San (@IamOyaSan) November 4, 2025
The deal was priced at $3.075 per share. Leading investors include DRW and Liberty City Ventures.
ARK Invest, Broadridge, Kraken, and Polychain Capital also participated in the round. Other institutional investors joined as well.
The Canton Foundation took part in the investment. This marks the foundation’s first investment in a publicly traded company.
Tharimmune will use the capital to purchase Canton Coin tokens. The company also plans to maintain its existing biotech operations, which focus on developing therapeutic candidates for inflammation and immunology disorders.
The company intends to become a Super Validator on the Canton Network. This role involves operating additional nodes to earn token rewards.
Running validator nodes will help strengthen network performance. Tharimmune plans to build applications on the Canton Network as part of its expanded role.
Canton Coin serves as the native token of the Canton Network. The network is a permissioned enterprise blockchain built for institutional use.
The blockchain enables interoperability between financial applications and tokenized assets. Digital Asset Holdings developed the Canton Network infrastructure.
Goldman Sachs, HSBC, and BNP Paribas back the Canton Network. Deutsche Bank, Paxos, and Cboe are also among its supporters.
The DTCC uses the network for tokenization and settlement infrastructure. Digital Asset raised $135 million earlier this year in a Goldman-backed funding round.
DRW and Tradeweb led that round. The capital went toward expanding institutional use cases for the network.
Trading firm DRW Holdings and Liberty City Ventures will contribute part of their investment directly in Canton Coins. Canton Coin is not yet listed on crypto exchanges.
The private placement is expected to close around November 6. The deal represents one of the largest digital asset financings to date.
Tharimmune stock reacted sharply to the announcement. Shares surged more than 120% to nearly $6.70 following the news.
The stock quickly pulled back from those highs. By Monday afternoon, shares were trading around $3.39.
This represented a gain of nearly 15% for the day. The stock closed Monday up 8.4% on Nasdaq.
Tokenized assets now total more than $34.6 billion according to RWA.xyz data. This includes $18.4 billion in private credit and $8.7 billion in US Treasury debt.
Commodities account for $3 billion of the total. Traditional finance companies continue moving operations to blockchain infrastructure.
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