Tharimmune announced that it has entered into definitive subscription agreements with institutional and accredited investors for a private placement of approximately $540 million. The offering, priced at $3.075 per share, was led by DRW and Liberty City Ventures with participation from 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, the governing body of the Canton Network, also participated in the transaction, marking Tharimmune as the first publicly traded company supported by the Foundation.
The closing of the offering is expected around November 6, 2025, pending customary closing conditions. Tharimmune intends to use the proceeds to acquire Canton Coin (“CC”), a utility token designed to power interoperability and settlement across the Canton Network. The company will also utilize funds for working capital and general corporate purposes. Tharimmune plans to operate as a Super Validator and establish additional Validators on the Canton Network to generate further CC rewards.
The company’s digital asset treasury (DAT) initiative aligns with its belief that Canton’s blockchain infrastructure is redefining global financial systems by integrating programmability, privacy, and interoperability at an institutional scale. Unlike traditional token-focused treasuries, Tharimmune aims to execute a multi-faceted approach—combining CC acquisition, validator operations, and the development of blockchain applications to promote institutional adoption and scalability.
Canton Network connects major financial institutions, including Broadridge, Goldman Sachs, Tradeweb Markets, DTCC, DRW, and BNP Paribas, offering privacy, atomic settlements, and high-performance interoperability. As of September 30, 2025, the network processed more than 500,000 daily transactions, reflecting its expanding utility and robustness.
To guide the initiative, Tharimmune appointed Mark Wendland as Chief Executive Officer and Mark Toomey as President, both of whom bring deep expertise in treasury management and global markets. The existing biotech operations will continue under Tharimmune’s current management team.
Advisors/counsel: Clear Street served as sole placement agent and financial advisor for the offering, with additional advisory support from President Street Global. Lucosky Brookman and Sheppard Mullin Richter & Hampton represented Tharimmune, while Paul Hastings served as counsel to Clear Street and Reed Smith to DRW.
KEY QUOTES:
“Canton’s architecture represents a breakthrough in enabling institutional-grade privacy and interoperability in a blockchain network. As we look toward a future with complete tokenization and digitization of financial markets, we are excited to support Tharimmune in implementing this next-gen DAT strategy. The unique coalition of investors and market participants assembled for this transaction reflects a strong conviction in the accelerated use of blockchain technology to drive efficiency, transparency, and resiliency of global markets.”
Don Wilson, Founder and CEO of DRW
“Our founding mission at Liberty City Ventures is to help create a safer, more efficient world by getting all global assets on chain. Canton is the only scaled blockchain network that fulfills the institutional requirements since the birth of the space.”
Emil Woods, Managing Partner at Liberty City Ventures
“We partnered with Lennar to build Novaprime in order to reinvent the mortgage industry by combining artificial intelligence and blockchain technology. We chose to build on Canton as it was the only L1 that met the needs of a highly regulated industry, and which had thoughtfully solved for privacy from its origins. We are proud to have been a Super Validator on the network since Day 1, and we are excited to participate in this transaction and the next era of growth in the Canton ecosystem.”
Suna Said, CEO of Nima Capital and Co-Founder of Novaprime
“After decades leading treasury and operations in traditional finance, I’m excited to drive this next-generation institutional treasury strategy forward. Our goal is to bridge best practices of financial discipline with the innovation potential of blockchain technology, creating a new DAT model that grows value through both asset performance and network utility.”
Mark Wendland, Chief Executive Officer of Tharimmune
