Artelo Biosciences (NASDAQ:ARTL) saw its stock jump 20% on Monday following news of a $9.475 million private placement aimed at launching a treasury strategy based on Solana (SOL), the blockchain network’s native cryptocurrency.
The clinical-stage biopharma company disclosed that it entered into a securities purchase agreement priced at $10.45 per share, encompassing both common stock and warrants. This initiative positions Artelo as the first publicly-listed pharmaceutical firm to adopt SOL as a key reserve asset.
Bartosz Lipiński, former Head of Engineering at Solana Labs and known for creating the Metaplex protocol, is leading the investment. He will also act as Artelo’s technical partner through his firm CUBE, which will handle the custody, staking, and decentralized finance (DeFi) deployment of the company’s digital assets.
“I am pleased to partner with Artelo for their groundbreaking SOL treasury initiative within the pharmaceutical industry,” said Lipiński, now Co-Founder and CEO of Cube Group. “Solana’s unparalleled scalability and decentralized infrastructure make it a cornerstone of the future financial ecosystem.”
Artelo’s board has signed off on an evolving SOL treasury strategy, balancing the digital asset position with continued funding for its core pharmaceutical R&D initiatives. Including this latest round, Artelo has raised $10.9 million in private placements since June 2025.
The deal is expected to close by August 5, 2025, pending standard closing conditions. R.F. Lafferty & Co. served as the advisor for the offering.
Artelo’s pipeline targets treatments for oncology, chronic pain, and various neurological and dermatological disorders through the modulation of lipid signaling pathways.
Artelo Biosciences stock price
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