Tharimmune Raises $540 Million to Launch Crypto Treasury Strategy
Biotech firm Tharimmune has raised $540 million in private funding to initiate a crypto treasury approach and acquire Canton Coin (CC), the native token of the Canton Network. The financing round, among the largest in digital assets this year, supports institutional interest in blockchain integration.
Major Institutional Participation in Funding Round
The funding was led by DRW and Liberty City Ventures, with participation from ARK Invest, Polychain Capital, Kraken, and other major institutional backers. This round values Tharimmune's shares at $3.075 each. The proceeds will be used to purchase CC tokens, strengthen the company's general operations, and expand its engagement in the Canton Network ecosystem.
Tharimmune to Role as Super Validator
In addition to acquiring tokens, Tharimmune aims to become a Super Validator on the Canton Network. This role involves operating additional nodes, earning token rewards, and supporting overall network performance.
Market and Industry Context
Tharimmune develops therapeutic solutions focused on inflammation and immunology disorders. Following the funding announcement, the company's stock climbed roughly 14%, closing with an 8.4% gain on Nasdaq.
The Canton Network is a permissioned enterprise blockchain designed for financial institutions. It supports interoperability between financial applications and tokenized assets. The network's backers comprise several large organizations, including Goldman Sachs, HSBC, BNP Paribas, Paxos, Deutsche Bank, and Cboe.
Traditional Finance Continues Onchain Expansion
Institutional moves into blockchain are accelerating. Data shows that the total value of tokenized assets has reached $34.6 billion, including $18.4 billion in private credit, $8.7 billion in US Treasury debt, and $3 billion in commodities.
- Ondo Finance recently announced plans to introduce its offerings to the XRP Ledger, providing access to government bonds and stablecoin redemptions.
- Firms such as Janus Henderson have launched tokenized funds on Avalanche and collaborated with S&P Dow Jones Indices to bring new index products onchain.
Tharimmune's move highlights the growing link between biotech, institutional finance, and blockchain networks as the sector continues to evolve.
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