Enlivex Therapeutics Raises $212M for Blockchain-Based Prediction Market Token Strategy

Enlivex Therapeutics, a clinical-stage biotech firm, is raising $212 million in a private placement to adopt a blockchain-based prediction markets token, RAIN, as its main treasury reserve asset. The firm will use the funds to buy RAIN tokens and continue clinical trials for its lead drug candidate, Allocetra, a macrophage therapy for osteoarthritis. The deal represents an 11.5% premium over Enlivex's last trading price and includes former Italian Prime Minister Matteo Renzi joining the company's board.