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MEI Pharma Acquires Litecoin, Launches $100M Institutional Treasury Strategy.
ByAinvest
Tuesday, Aug 5, 2025 8:10 am ET1min read
MEI Pharma has acquired 929,548 Litecoin (LTC) tokens at an average price of $107.58, launching a $100M institutional treasury strategy. The acquisition values the Litecoin treasury at approximately $110.4M as of August 4, 2025. MEI becomes the first U.S.-listed public company to adopt Litecoin as a primary reserve asset. The strategy is developed in partnership with GSR and guided by Litecoin Creator Charlie Lee.
MEI Pharma Inc. (NASDAQ: MEIP) has announced the acquisition of 929,548 Litecoin (LTC) tokens at an average price of $107.58, marking a significant move in the company's financial strategy. This acquisition, valued at approximately $110.4 million as of August 4, 2025, positions Litecoin as a primary reserve asset for the first time in a U.S.-listed public company [1].The strategic decision to adopt Litecoin as a treasury asset was guided by Litecoin creator Charlie Lee, who serves on MEI's board, and supported by crypto investment firm GSR. Litecoin's 13-year operational track record, low transaction fees, and integration with platforms like BitPay, Robinhood, PayPal, and Venmo were key factors in MEI's decision [1].
The initiative aims to leverage Litecoin's scalability and reliability as a long-term store of value and operational treasury asset. Joshua Riezman, U.S. Chief Strategy Officer at GSR, called this move a new institutional standard for public companies integrating digital assets into financial operations [1].
MEI Pharma also continues to evaluate its pharmaceutical pipeline, including voruciclib, an oral cyclin-dependent kinase 9 inhibitor, with plans to commence research and development activities in the coming months [1].
This strategic shift reflects MEI's forward-thinking approach to governance, resilience, and financial innovation. The company plans to update its corporate identity to reflect this expanding strategy, which could include the commencement of Litecoin mining activities [1].
The introduction of Litecoin into MEI's treasury strategy carries potential risks, including fluctuations in Litecoin's market price that could result in impairment charges if the cryptocurrency's value falls below its carrying value on MEI's balance sheet [1].
References:
[1] https://www.investing.com/news/cryptocurrency-news/mei-pharma-acquires-100-million-in-litecoin-for-treasury-strategy-432SI-4170072
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