Biotech’s Initial Step: Blockchain Treasury Focuses on Crypto’s Most Rapidly Expanding Industry

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Biotech’s Initial Step: Blockchain Treasury Focuses on Crypto’s Most Rapidly Expanding Industry

Bitget-RWA2025/11/24 13:28

By:Bitget-RWA

- Enlivex Therapeutics raises $212M via private placement to adopt RAIN, a blockchain-based prediction market token, marking the first U.S. public company to use such a treasury strategy. - Funds will prioritize RAIN token accumulation as primary reserve, with proceeds also supporting clinical trials for its osteoarthritis therapy and a new board member, former Italian PM Matteo Renzi. - The move aligns with rising institutional interest in prediction markets but introduces risks from token volatility, reg

Enlivex Therapeutics (ENLV), a biotechnology company listed on Nasdaq, has secured $212 million via a private placement to implement an innovative treasury approach focused on RAIN, a blockchain-based token for prediction markets,

representing the first instance

of such a strategy by a publicly traded U.S. company. The Israel-headquartered business, valued at $22 million in market cap,

intends to dedicate most

of the raised capital to acquiring RAIN tokens, which will become its main treasury reserve asset. The RAIN protocol, operating on the

Arbitrum

blockchain, enables participants to launch and exchange prediction markets based on real-world outcomes, which are determined by oracles or artificial intelligence. The token incorporates a deflationary "buyback and burn" feature

that decreases its supply

The capital raise involved issuing 212 million shares at $1.00 each,

reflecting an 11.5% premium

over the closing share price on November 21.

Funds will further back

Enlivex’s ongoing clinical research on Allocetra, its macrophage-based treatment for osteoarthritis, which recently demonstrated favorable six-month results in a Phase IIa study. At the same time, the company

brought former Italian Prime Minister Matteo Renzi

onto its board, adding a prominent political leader to its leadership team.

Enlivex’s initiative reflects a rising trend of institutional involvement in prediction markets,

such as a $2 billion commitment

to Polymarket by the parent of the New York Stock Exchange and a $300 million investment round for Kalshi led by Andreessen Horowitz. Shai Novik, chairman of Enlivex, said the company seeks to be an "early entrant" in offering investors access to what he called "one of the fastest-expanding areas in crypto." Nevertheless, the RAIN treasury plan

brings exposure to risks

associated with token price swings, regulatory ambiguity, and custody issues.

The deal, anticipated to finalize by November 25, 2025, is being managed by BTIG as the exclusive placement agent

according to insiders

Enlivex

has

reiterated its commitment to

advancing Allocetra’s clinical development, targeting the $30 billion osteoarthritis market. The company’s combined focus on biotechnology and digital assets has already led to a 22% surge in its stock price during premarket trading

after the latest trial results

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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