MEI Pharma Invests $100M in Litecoin as Treasury Asset

- MEI Pharma acquires 929,548 Litecoin (LTC) tokens for $100 million. - Becomes the first U.S.-listed firm to adopt Litecoin as its primary treasury asset. On August 5, 2025, Business Wire reported that MEI Pharma (NASDAQ: MEIP) invested $100 million to purchase 929,548 Litecoin (LTC) tokens. This strategic move makes MEI Pharma the first publicly traded U.S. company to adopt Litecoin as its primary treasury reserve asset. The company executed the acquisition at an average price of $107.58 per token. For this transaction, it collaborated with cryptocurrency investment firm GSR and received input from Litecoin creator Charlie Lee, who played a key role in guiding the initiative. As a result, Lee has since joined MEI Pharma’s board of directors as a strategic advisor. MEI Pharma highlighted several reasons for choosing Litecoin for its corporate treasury, citing the cryptocurrency's more than 13 years of uninterrupted uptime, low transaction costs, and fast settlement times. These features make it an attractive asset for efficient financial management. Furthermore, MEI Pharma noted that Litecoin’s acceptance on major payment platforms like BitPay, Robinhood, PayPal, and Venmo validates its utility and strategic relevance. Going forward, GSR will manage MEI Pharma’s digital asset and treasury operations. The pharmaceutical company also hinted it might explore Litecoin mining, signaling a deeper involvement in the cryptocurrency ecosystem. Following these developments, MEI Pharma plans to assess potential updates to its corporate identity but will maintain its focus on its flagship cancer treatment candidate, voruciclib. To fund this acquisition, MEI Pharma used proceeds from a private placement it concluded in July 2025. The company had previously announced this funding strategy on July 18, 2025. According to market data on August 5 at 15:15 UTC, Litecoin (LTC) was trading at $122.601, up 3.071% over the previous 24 hours.