Enlivex Therapeutics had unveiled significant financing and a prominent board appointment as the company initiates a new digital asset treasury strategy centered on RAIN prediction markets. The clinical-stage immunotherapy company announced a $212 million private placement alongside the appointment of former Italian Prime Minister Matteo Renzi to its board of directors.
The company entered into a securities purchase agreement for a private investment in public equity involving 212 million ordinary shares for one dollar per share, reflecting an 11.5% premium compared to the closing price on November 21, 2025. The transaction includes funding in both USD and USDT for expected gross proceeds of approximately $212 million before fees and expenses. Enlivex plans to allocate the net proceeds toward launching what it describes as the first prediction markets token treasury strategy built around the RAIN token while continuing to support its core clinical development activities.
RAIN is a decentralized prediction and options protocol built on Arbitrum that allows users to create and trade customizable options across any market. The platform supports AI-driven outcomes and uses the RAIN token for governance, integrating a deflationary buyback-and-burn mechanism. Enlivex stated that RAIN is intended to serve as the company’s primary treasury reserve asset under its newly adopted treasury policy.
In parallel with this strategic pivot, Enlivex reaffirmed its ongoing operating business, focused on the late-stage clinical development of Allocetra, a macrophage reprogramming therapy for osteoarthritis. The company highlighted the significant global burden of the disease, noting that more than 32.5 million Americans and over 300 million people worldwide are affected, with projections indicating that 78 million Americans may have osteoarthritis by 2040. Enlivex emphasized that no therapies approved by the FDA or EMA have demonstrated an ability to arrest, slow, or reverse structural joint damage.
Matteo Renzi will officially join Enlivex’s board following the closing of the private placement.
KEY QUOTES:
“I would like to welcome Mr. Matteo Renzi to the Board of Directors of Enlivex and am looking forward to working together with Mr. Renzi to build shareholder value for Enlivex shareholders.”
Shai Novik, Chairman of the Board of Directors of Enlivex
“Good leadership depends on understanding what may come next. I believe innovation must always be responsible and purposeful. I am happy to join the board of Enlivex, a biotech company with a strategic vision for the future. I see real potential in blockchain technologies and in the emergence of prediction-driven models that encourage greater clarity, participation, transparency and long-term thinking.”
Matteo Renzi, Former Prime Minister of Italy
