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Bitcoin Player Parataxis To Acquire Bridge Biotherapeutics After IPF Failure

 
• By Jung Won Shin

After the failure of its lead asset in a Phase II trial earlier this year, Korea's Bridge Biotherapeutics has accepted an acquisition offer from bitcoin group Parataxis.

Bitcoin and Biopharmaceutical
Biopharma and bitcoin come together in unusual Korea acquisition deal (Shutterstock/AI generated image)

In an unusual deal, Bridge Biotherapeutics has become the first South Korean bioventure to be acquired by a global bitcoin treasury firm.

Parataxis Holdings, through Parataxis Korea Fund I and affiliates, announced it had reached a definitive agreement to invest KRW25bn ($18m)...

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