Tharimmune raises $540 million for Canton Coin treasury strategy

Tharimmune Inc. (NASDAQ: THAR) announced it has secured approximately $540 million through a private placement offering led by DRW and Liberty City Ventures. The company plans to use the proceeds to acquire Canton Coin tokens and establish a digital asset treasury strategy focused on the Canton Network blockchain.

The offering, priced at $3.075 per share, attracted participation from notable investors including ARK Invest, Polychain Capital, SBI Group, Tradeweb Markets, and the Canton Foundation. The transaction is expected to close on November 6, 2025, subject to customary closing conditions.

Tharimmune intends to operate as a Super Validator on the Canton Network to generate additional Canton Coin rewards. The company appointed Mark Wendland as Chief Executive Officer and Mark Toomey as President to oversee the digital asset treasury operations, while existing management continues to run its clinical-stage biotechnology business.

The Canton Network processes more than 500,000 daily transactions as of September 30, 2025, according to the company. The blockchain network connects financial institutions and supports institutional-grade privacy and interoperability features.

"Canton's architecture represents a breakthrough in enabling institutional-grade privacy and interoperability in a blockchain network," said Don Wilson, Founder and CEO of DRW. "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."

Clear Street acted as sole placement agent for the offering, while President Street Global served as financial advisor. The securities were offered to institutional accredited investors under Section 4(a)(2) of the Securities Act and were not registered with the Securities and Exchange Commission.

The company stated it will combine Canton Coin acquisition with validator operations and application development investments to create what it describes as a diversified digital asset treasury approach.

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