Big Pharma In The Crypto Game: $60M Investment For BNB Treasury Strategy

[Ben Graham]

Windtree Therapeutics (WINT), a biotech company dedicated to developing therapies for critical health conditions, has announced a significant partnership with Build and Build Corporation. The two companies revealed a $200 million securities purchase agreement aimed at establishing a Binance Coin (BNB) treasury.

First NASDAQ-Listed Company Offering Direct BNB Exposure

Under the terms of this agreement, Windtree has the potential to secure an additional $140 million in gross proceeds through future subscriptions, which would bring total subscriptions to $200 million. 

The funds—expected to come in the form of cash, shares of Osprey BNB Chain Trust, and BNB tokens—will primarily be utilized to implement a BNB crypto treasury strategy. 

This, according to the firm’s official announcement, positions Windtree as a pioneer in the BNB digital asset space, aiming to be the first NASDAQ-listed company to provide direct exposure to the BNB token, which currently ranks as the fifth-largest blockchain by market capitalization.

The initiative reportedly addresses a pressing need for both retail and institutional investors seeking regulated access to the Binance ecosystem, one of the leading ecosystems in the digital asset industry.

The Most Liquid Crypto Exchange Token? 

The firm also praised the Binance ecosystem, anchored by one of the world’s largest cryptocurrency exchanges. Windtree also considered the growing metrics of the token, noting that BNB boasts average daily trading volumes exceeding $2 billion, making it the largest and most liquid crypto exchange token globally.

Patrick Horsman, CFA and Director of Build & Build Corp, expressed enthusiasm about the partnership, stating:

We are thrilled to propose a groundbreaking BNB strategy to the US market. This innovative solution will offer investors targeted exposure to Binance and BNB, addressing what we believe to be a critical gap in the US investment landscape.

The Binance Smart Chain supports swift, low-cost transactions and fosters a thriving decentralized finance (DeFi) ecosystem that includes thousands of decentralized applications (dApps) and millions of users. 

With a dominant market share in Asia, Windtree asserts that Binance and its ecosystem are poised for significant growth in both global and US markets. Jed Latkin, Chief Executive Officer of Windtree, emphasized the importance of this transaction, noting:

Today marks a pivotal moment for Windtree. This transaction secures up to $200 million from institutional investors, offering our shareholders a unique opportunity to gain exposure to a BNB-focused crypto treasury strategy.

At the time of writing, Binance Coin is trading at $717, having registered significant gains of 9% and 10% over the past fourteen days and one month, respectively. Despite this recovery, the token is still trading 8.6% below its record price of $788, which was reached during last December’s rally.

Featured image from DALL-E, chart from TradingView.com