Nasdaq-listed biopharmaceutical company MEI Pharma has acquired 929,548 Litecoin (LTC) worth $110.4 million as its primary treasury reserve asset, marking the first such institutional adoption by a U.S. public company. The tokens were purchased at an average price of $107.58 through a strategy developed with crypto market maker GSR and guided by Litecoin creator Charlie Lee, who joined MEI's board earlier in 2025.
The decision pivots on Litecoin's 13-year uninterrupted uptime, transactional efficiency with low fees and fast settlements, and broad integration across payment platforms including BitPay, PayPal, Robinhood, and Venmo. Charlie Lee emphasized that "MEI is taking a clear, institutional step forward recognizing Litecoin's role as both a reserve asset and integral part of global financial systems." GSR will provide ongoing execution support and governance frameworks for the treasury initiative.
Despite this crypto allocation, MEI maintains its commitment to biotech R&D, continuing pre-clinical development of cancer drug voruciclib. The company hinted at an upcoming corporate rebranding potentially involving Litecoin mining operations, positioning itself at the intersection of biopharma and decentralized finance.