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Tharimmune Raises $540 Million for Canton Coin Treasury Strategy

The Nasdaq biotech will purchase Canton Coin to build a validator‑driven digital‑asset treasury.

Tharimmune stock gains 30%, on $540m capital raise to build canton coin treasury strategy

Overview

  • The private placement was led by DRW and Liberty City Ventures and was reported to be priced at $3.075 per share.
  • The investor group spans crypto and traditional finance firms, and the Canton Foundation participated; Clear Street served as sole placement agent.
  • Proceeds are designated to acquire Canton Coin, fund related operations, and run multiple validator nodes on the Canton Network.
  • Tharimmune named Mark Wendland as CEO to lead the treasury initiative and Mark Toomey as president, with biotech operations continuing under the existing team.
  • Closing is expected around Nov. 6, with THAR shares up roughly 30% on the announcement and Canton Coin down about 4%.