Catenaa, Saturday, August 09, 2025-MEI Pharma has purchased 929,548 Litecoin (LTC) tokens for $100 million, becoming the first US-listed company to adopt Litecoin as its primary treasury asset.
The acquisition, made between July 30 and August 4 at an average price of $107.58 per token, has already risen in value to about $115 million as Litecoin trades near $124.
The Nasdaq-listed drug developer funded the purchase through a $100 million private placement, with Litecoin creator Charlie Lee and crypto trading firm GSR as lead investors.
Lee has joined MEI’s board of directors, and GSR will manage the company’s crypto treasury strategy. Other participants included the Litecoin Foundation, ParaFi, Hivemind, Primitive, RLH Capital, and Delta Blockchain.
MEI cited Litecoin’s 13-year operational record, low transaction fees, and fast settlement as reasons for its selection. The company also pointed to its integration with payment providers such as BitPay, PayPal, and Robinhood as proof of its practical utility.
The firm said it may extend its crypto strategy to include Litecoin mining and related initiatives, while continuing to advance its oncology pipeline, including the experimental cancer therapy voruciclib.
The move aligns MEI with a growing trend of public companies adopting cryptocurrency as part of their treasury management strategies. While Strategy has dominated with Bitcoin, other firms have increasingly diversified into Ethereum, Solana, XRP, Dogecoin, SUI, and Toncoin.
