Tharimmune closes $545 million private placement for Canton Coin strategy

Tharimmune, Inc. (NASDAQ: THAR) completed a $545 million private placement of common stock at $3.075 per share, according to a company statement. The biotechnology company plans to use proceeds to acquire Canton Coin and operate validators on the Canton Network blockchain.

DRW and Liberty City Ventures led the financing round, which included investors such as ARK Invest, Broadridge, Digital Asset, Polychain Capital, and SBI Group. The Canton Foundation, which oversees the Canton Network, also participated in the placement.

The company appointed Mark Wendland, former partner and chief operating officer at DRW, as chief executive officer to oversee the digital asset treasury strategy. Mark Toomey, former managing director at Liberty City Ventures, was named president. Both will focus on the Canton Network operations while existing management continues biotechnology activities.

Tharimmune intends to acquire Canton Coin, the utility token for the Canton Network, and apply to operate as a Super Validator on the blockchain. The company will also invest in applications built on the network targeting institutional capital markets.

The Canton Network processes transactions for financial institutions including Goldman Sachs, Tradeweb Markets, DTCC, and BNP Paribas. According to Copper Research, the network handled more than 500,000 daily transactions as of September 30, 2025.

Clear Street served as sole placement agent for the offering, which was conducted as a private placement to accredited investors under Section 4(a)(2) of the Securities Act. The securities were not registered with the SEC.

The company maintains its clinical-stage biotechnology operations alongside the new digital asset strategy. Tharimmune filed its most recent annual report with the SEC on March 26, 2025.

You May Also Be Interested In

• Evolution Petroleum prices stock offering at $3.25 per share
• Saratoga Investment prices $85M in notes due 2031 at 8.00%
• Datavault AI completes acquisition of NYIAX exchange platform