Toncoin-focused treasury company AlphaTON agrees to sell cancer treatment subsidiary
AlphaTON is selling its cancer treatment subsidiary, iOx Therapeutics, to focus on growing the Telegram/TON blockchain ecosystem.Summary
AlphaTON Capital Corp., a treasury and investment firm focused on the TON token, announced it is selling its wholly owned subsidiary, iOx Therapeutics Limited, which develops liposomal iNKT agonists for cancer treatment. The buyer is Immunova, exercising a call option to acquire iOx. AlphaTON, which was formerly the biotech firm Portage Biotech Inc., will receive equity consideration in Immunova, potentially exceeding $100 million through milestone payments and royalties. CEO Brittany Kaiser stated this move unlocks value from iOx while allowing AlphaTON to maintain long-term economic participation. The company is pivoting to focus on its TON token stake and advancing Telegram-oriented, AI-driven biotech initiatives for rare cancers, including its mesothelioma program.
(Source：The Block)