MEI Pharma Secures $100 Million PIPE Deal With Litecoin as Reserve Asset

MEI Pharma, a publicly traded biotechnology company, announced a significant strategic move on Friday, revealing a $100 million private investment in public equity (PIPE) transaction. This deal is notable for its inclusion of Litecoin (LTC) as the company's primary reserve asset, marking the first known instance of a publicly traded biotech firm adopting Litecoin for its corporate treasury.

The investment round was spearheaded by Titan Partners Group and crypto trading firm GSR. MEI Pharma aims to generate gross proceeds of approximately $100 million through the sale of 29,239,767 shares of common stock, or pre-funded warrants, at $3.42 per share. The transaction is anticipated to conclude on or around July 22, 2025, subject to customary regulatory and closing conditions.

As part of the agreement, MEI Pharma will appoint Litecoin creator Charlie Lee to its board of directors. Additionally, GSR will secure a board seat and lead the company’s digital asset and treasury management advisory committee. This strategic partnership underscores MEI Pharma's commitment to integrating blockchain and decentralized finance into its operations.

MEI Pharma's decision to anchor its treasury with Litecoin is a result of a thorough review of business alternatives. The company has collaborated with the Litecoin Foundation and GSR to implement this innovative treasury strategy. Frederick W. Driscoll, Chairman of the Board at MEI, expressed enthusiasm about this pioneering move, stating that it positions the company for a new phase of innovation.

Charlie Lee, the creator of Litecoin, highlighted the coin's attributes of speed, security, and decentralization, which align with MEI Pharma's strategic goals. He noted that this milestone reflects growing institutional confidence in Litecoin and sets the stage for broader adoption in traditional capital markets.

Several crypto investment firms participated in the private placement, including MOZAYYX, ParaFi, Hivemind, Primitive, RLH Capital, Delta Blockchain, and CoinFund. Titan Partners Group, a division of American Capital Partners, acted as the sole placement agent for the PIPE transaction. The securities were offered under exemptions from the registration requirements of the Securities Act of 1933, particularly Section 4(a)(2) and Regulation D, and relevant state securities laws.

Because the securities are being offered through a private placement, they cannot be publicly traded in the US without registration or an applicable exemption. According to the agreement, MEI Pharma intends to use the proceeds to acquire Litecoin (LTC), designating it as the company’s principal treasury reserve asset. This move is expected to enhance MEI Pharma's financial stability and strategic flexibility in the evolving landscape of digital assets and blockchain technology.