Summary
- AlphaTON said it will focus on the Telegram blockchain ecosystem through the sale of its pharma subsidiary.
- It said the sale is expected to enable the company to generate up to $100 million in revenue, including royalties, over time.
- AlphaTON said it is reshaping its corporate structure around its blockchain business by strategically accumulating TON tokens and strengthening its DAT strategy.
AlphaTON, a Nasdaq-listed company and a TON token-based digital asset treasury (DAT) firm, is selling its pharmaceutical subsidiary and sharpening its focus on the Telegram blockchain ecosystem.
According to crypto media outlet The Block on the 18th (local time), AlphaTON sold its biotech unit iOx Therapeutics to Immunova. The deal is expected to generate up to $100 million in proceeds over time, including potential royalties.
AlphaTON is known for strategically accumulating TON tokens, having positioned digital assets as a core part of its treasury strategy. Resources secured through the sale of the pharma subsidiary are expected to be deployed to expand Telegram blockchain-based businesses.
As some listed companies have recently been doubling down on DAT strategies centered on specific crypto assets, AlphaTON is reshaping its corporate structure by streamlining and focusing on its blockchain business.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![Wall Street cheered Nvidia–Meta tie-up, but ‘flinched’ at rate-hike talk [New York market briefing]](https://media.bloomingbit.io/PROD/news/32f5a9d3-5551-4f6e-bbd3-aa4cf4d0d897.webp?w=250)
