TLDR
- MEI Pharma pivots to crypto, investing $100M in Litecoin treasury shift.
- MEI Pharma surges 33% on $100M Litecoin move, led by Charlie Lee.
- Biotech first: MEI Pharma adopts Litecoin as primary treasury asset.
- MEIP shakes biotech norms with $100M Litecoin-backed treasury deal.
- Litecoin leads MEI’s bold $100M shift in biotech finance strategy.
MEI Pharma, Inc. (NASDAQ: MEIP) surged over 33% intraday after announcing a strategic $100 million cryptocurrency treasury move. The stock peaked above $9.00 before stabilizing near $6.02 by midday, reflecting renewed market interest. The jump follows MEI’s announcement of a private placement and a major shift toward Litecoin as a reserve asset.
MEIP Confirms $100M Private Placement Led by Charlie Lee and GSR
MEI Pharma entered into securities purchase agreements for a $100 million private investment in public equity (PIPE) deal. The company will issue over 29 million shares or pre-funded warrants at $3.42 per share, meeting Nasdaq’s minimum pricing requirements. Titan Partners Group, a division of American Capital Partners, is handling placement duties.
The deal is structured under Section 4(a)(2) and Regulation D of the Securities Act, exempting it from SEC registration requirements. However, MEI will register the resale of shares under a separate agreement with investors. Completion is expected by July 22, 2025, subject to customary closing conditions and compliance checks.
This capital will fund MEI’s Litecoin acquisition, a move that reshapes its treasury strategy and positions it uniquely among public biotech companies. MEI plans to integrate the digital asset into its corporate finance model. Placement participants include key crypto firms and funds, such as ParaFi, CoinFund and Hivemind.
Litecoin Becomes Primary Treasury Reserve in Biotech First
MEI Pharma will convert a large portion of its treasury into Litecoin (LTC), marking an industry-first move within biotech. Litecoin, created in 2011 by Charlie Lee, has maintained 100% uptime and is often compared to Bitcoin. MEI’s adoption introduces a decentralized and secure monetary asset into its financial structure.
GSR will serve as the company’s digital asset and treasury management advisor throughout this transition. The firm aims to help MEI implement a risk-conscious strategy while retaining liquidity and capital stability. This appointment follows MEI’s decision to add Charlie Lee to its Board and accept Taheer Datoo’s resignation.
The Litecoin Foundation and several prominent blockchain players also backed the treasury decision, reinforcing its market credibility. The strategy supports MEI’s long-term capital framework, focusing on asset diversification. Litecoin’s track record enhances MEI’s credibility in balancing biotech operations with digital asset innovation.
Strategic Move Marks Shift in MEIP’s Corporate Vision
This pivot highlights MEI’s broader strategic direction as it merges pharmaceutical development with decentralized financial tools. The company is known for its oncology pipeline, including voruciclib, a CDK9 inhibitor currently in clinical development. The new capital model will complement these ongoing R&D efforts.
MEI aligns with a fast, low-fee blockchain suitable for long-term treasury use. The company plans to manage LTC holdings as a core financial asset, diverging from traditional dollar-based reserves. It also sets a precedent for other public companies in the life sciences sector.
