Parataxis Holdings LLC has completed a transaction to acquire a controlling stake in biotech company Bridge Biotherapeutics, listed on KOSDAQ.
Strategic Restructuring for Bitcoin Treasury Integration
Parataxis Holdings invested KRW 25 billion (approximately $18 million) to gain a controlling interest in Bridge Biotherapeutics, enabling the company to restructure into a Bitcoin-native asset management platform. Upon shareholder approval, the company will be renamed Parataxis Korea while retaining its public listing.
Management Changes Following Failed Drug Trials
Bridge Biotherapeutics has faced challenges following key clinical trial failures, including its candidate BBT-877. By selling management rights, the company aims to gain financial stability and a new strategic direction focusing on Bitcoin assets as it faced delisting risks due to consecutive losses.
BTC Strategy and Future Outlook
With institutional-grade Bitcoin financial strategies, Parataxis Holdings plans to create South Korea's first BTC-oriented institutional vehicle in the public markets. A shareholder meeting to approve these changes is expected to take place in August 2025, at which point implementation of the new strategy will commence.
The deal with Parataxis provides Bridge Biotherapeutics the opportunity to adapt to market changes and leverage new financial strategies for growth.
