Tharimmune, Inc. (NASDAQ: THAR), a publicly traded biotechnology company developing new digital asset treasury strategies, announced the completion of a $545 million private placement. The funding will support the company’s plans to acquire Canton Coin (CC) and expand its participation in Canton Network, a blockchain infrastructure for institutional financial markets.
The funding round was led by DRW and Liberty City Ventures, with participation from ARK Invest, Kraken, Polychain Capital, SBI Group, Tradeweb Markets, and Canton Foundation. Tharimmune will be the first publicly traded company to be backed by the Canton Foundation.
The company plans to use the proceeds to acquire CC tokens, operate as a super validator, and support the growth of applications built on the Canton Network. A portion of the funds will also be used for working capital and general corporate purposes.
Mark Wendland, former partner and chief operating officer at DRW, has been appointed chief executive officer to lead the digital asset treasury initiative. Mark Toomey, formerly of Liberty City Ventures, has joined as president. The current management team will continue to oversee the company’s biotechnology business.
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