MEI Pharma’s Crypto Treasury Move: 930,000 Litecoin Tokens Acquired
MEI Pharma Inc. has become the first U.S.-listed public company to adopt litecoin ( LTC) as a primary reserve asset, deploying $100 million from a recent stock sale to acquire 929,548 tokens of the cryptocurrency.
WRITTEN BY
Jamie Redman
Litecoin Creator Charlie Lee Joins MEI Pharma’s Board
The clinical-stage biopharmaceutical company (Nasdaq: MEIP) disclosed the LTC acquisition in an Aug. 5 regulatory filing. MEI Pharma purchased the litecoin ( LTC) tokens at an average price of $107.58 between July 30 and Aug. 4, 2025. The investment utilized all net proceeds from a private placement of common stock and warrants completed on July 17.
MEI Pharma’s litecoin holdings were valued at approximately $110.4 million as of Aug. 4. The company described the move as launching a “major institutional treasury strategy” built on “digital asset infrastructure and long-term capital innovation.” The plan was first revealed in mid-July.
The strategy was developed with crypto investment firm GSR and includes guidance from Litecoin creator Charlie Lee, who serves on MEI Pharma’s board. Lee stated the initiative recognizes LTC’s role “as both a reserve asset and an integral part of global financial systems.”
MEI Pharma cited Litecoin’s “proven reliability” with 13 years of operational uptime, low transaction fees, and “broad-based adoption” on platforms including Paypal, Venmo, and Bitpay as key reasons for the selection.
The San Diego-based company, founded in 2000, develops cancer therapies targeting hematologic malignancies and solid tumors. Its drug pipeline includes voruciclib, an oral cyclin-dependent kinase inhibitor. MEI Pharma reported having 28 employees as of July 2025.
The firm indicated plans to formally update its corporate identity in the coming weeks and may commence LTC mining activities. MEI Pharma emphasized it continues to assess preclinical activities for its oncology candidates alongside the LTC treasury strategy. Over the last month, MEIP shares have jumped 111% against the U.S. dollar.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings