Biotech firm Tharimmune has raised $540 million in a private placement to fund its new digital asset treasury strategy centered on Canton Coin. The company will use the proceeds to acquire tokens, run validator nodes, and develop applications on the Canton Network.
The Nasdaq-listed company announced Monday that it had secured $540 million through a private sale, emphasizing its plan to expand operations within the Canton ecosystem while maintaining its biotech business.
Investors in the round include DRW, Liberty City Ventures, ARK Invest, Broadridge, Kraken, and Polychain Capital. The Canton Foundation also participated for the first time in a public company investment. According to Bloomberg, some investors contributed directly in the form of Canton Coins — the native asset of the Canton Network, a privacy-enabled blockchain designed to connect regulated institutions.
Developed by Digital Asset Holdings, the Canton Network is already used by major institutions such as Goldman Sachs, BNP Paribas, and DTCC for tokenization and settlement infrastructure. Earlier this year, Digital Asset closed a $135 million funding round led by Goldman Sachs and DRW. Following the announcement, Tharimmune shares surged over 120% before closing the day with a gain of about 15%.
