Enlivex Raises $212M To Adopt Prediction Market Token As Main Treasury Asset

Enlivex Therapeutics, an Israel-based biotech firm listed on Nasdaq, has raised $212 million in a private placement to adopt the RAIN prediction-market token as its primary treasury reserve.

RAIN powers a decentralized protocol on Arbitrum that lets users trade bets on real-world events, from politics to sports.

Enlivex plans to allocate most of the new funds to purchasing RAIN, calling prediction markets a promising growth sector. The company will continue clinical trials for its osteoarthritis drug Allocetra, while Italy’s former PM Matteo Renzi is expected to join its board.

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