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MEI Pharma has announced a $100 million private investment at $3.42 per share, marking a bold step forward in its growth strategy. As part of the deal, Charlie Lee, creator of Litecoin, will join MEI’s Board of Directors, replacing Taheer Datoo.
MEI has also appointed GSR as its digital asset and treasury advisor to help launch its new Litecoin Treasury Strategy, with a unique blend of biotech and blockchain.
First Public Company to Adopt LTC as Reserve
The $100M funding round was also backed by the Litecoin Foundation and top crypto firms like MOZAYYX, ParaFi, Hivemind, and CoinFund. Notably, MEI becomes the first public company to adopt Litecoin as a treasury reserve asset. Litecoin is a fast, reliable cryptocurrency often called the “silver to Bitcoin’s gold.”
Litecoin’s perfect track record and real-world use make it a solid, decentralized asset for MEI’s treasury strategy.
“This milestone not only reflects growing institutional confidence in LTC but also sets the stage for broader adoption in traditional capital markets,” Lee said in the press release.
Charlie notes that for 14 years, Litecoin has been a stable, low-cost, and accessible network used by millions. It leads in global transactions on platforms like BitPay and is trusted for payments, remittances, and retail. This partnership with GSR and MEI Pharma brings Litecoin’s real-world utility into the institutional space for the first time.
There has been a growing list of companies adding crypto to their balance sheets.This shift shows that crypto is being viewed as a long-term strategic asset, and not just a speculative one. MEI’s move signals a belief in Litecoin’s future as a real-world payment tool, and not just a digital store of value.
Deal Set to Close July 22
MEI Pharma plans to close its $100 million private investment deal by July 22, 2025, pending final approvals. The funds will be used to buy Litecoin, which will become MEI’s primary treasury reserve asset. Titan Partners Group is acting as the sole placement agent for the deal.
MEI stated that the PIPE was designed to meet Nasdaq’s listing and minimum pricing rules. After the deal closes, the company will file a resale registration statement with the SEC.
MEI’s Stock Surges
MEI Pharma’s stock jumped 83% in pre-market trading on Friday after the announcement. Shares hit a high of $9 before pulling back and are currently trading at $5.91, up 31% in the last 24 hours.
