Parataxis Makes Bold Move: Acquires KOSDAQ-Listed Biotech Firm to Launch Korea’s First Bitcoin Treasury Giant

In a power play that blurs sector lines, crypto investment firm Parataxis just gobbled up a KOSDAQ-listed biotech company—not for pipelines, but for its balance sheet. The endgame? Forging Korea's first corporate Bitcoin treasury behemoth.

Why This Matters

While biotech valuations languish post-pandemic, Parataxis spotted a backdoor into public markets. The shell acquisition bypasses Korea's stringent crypto listing rules—a chess move that'd make even SPAC architects blush.

The Bigger Picture

This isn't just another 'corporation buys BTC' story. By commandeering an existing listed entity, Parataxis effectively creates a Bitcoin-convertible bond—one that trades daily on public exchanges while dodging the regulatory purgatory facing spot ETFs.

Wall Street Meets Crypto

The playbook? Simple: leverage the biotech's cash reserves (and presumably some very confused shareholders) to accumulate BTC at institutional scale. Because nothing says 'long-term healthcare investment' like converting pipettes into Satoshis.

The Bottom Line

While traditional finance scrambles to tokenize real-world assets, crypto's vanguard is doing the inverse—colonizing legacy markets through tactical M&A. Just don't ask about the biotech's original shareholders—they're either crypto converts now or seeking therapy.

• Parataxis invests $18.5M to convert Bridge Bio into South Korea’s first BTC treasury firm.
• Bridge Biotherapeutics stock surged over 20% after Parataxis announced its acquisition plans.
• Over 237 public firms now hold Bitcoin, with institutional adoption rising sharply worldwide.

Parataxis Holdings LLC has signed a definitive agreement to acquire a controlling stake in South Korean biotech firm Bridge Biotherapeutics, Inc. (KOSDAQ: 288330) for KRW 25 billion, approximately $18.5 million. 

This announced MOVE will create the first institutionally backed Bitcoin-native treasury company on South Korea’s KOSDAQ exchange. Pending shareholder approval and standard closing conditions, Bridge Biotherapeutics will rebrand as Parataxis Korea and maintain a listing in the stock market, making a new shift as a clinical-stage biotech developer.

Edward Chin, Founder and CEO of Parataxis Holdings and Co-Founder of Parataxis Capital Management, will join the Board of Directors. At the same time, Parataxis Capital Partner Andrew Kim is set to take over as CEO.

Bridge Bio’s co-founder, James Jungkue Lee, will continue leading the biotech segment. “We see South Korea as an important market in the evolution of BTC adoption. Our intent is to support institutional access to BTC exposure while emphasizing sound corporate governance and disciplined capital management,” Kim stated.

Parataxis Spurs Bitcoin Adoption Amid Korean Market Shift

The deal will position Parataxis Korea as a hybrid company that maintains its biotech research while building a Bitcoin treasury, drawing inspiration from other global players like Strategy in the US and Metaplanet in Japan.

This strategy follows South Korea’s financial regulators’ opening of new channels for institutional investment in crypto. In 2025, the Financial Services Commission initiated a pilot program in which more than 3,500 corporations and professional investors will have the opportunity to open “real-name” accounts paving the way to the availability of digital assets.

Similarly, public companies are increasing bitcoin holdings on their balance sheets. As per BitcoinTreasuries.NET, over 237 publicly traded companies now have Bitcoin in their possession, which makes up approximately 3.96% of the entire supply of BTC. Standard Chartered notes a sharp increase in traditional companies adopting Bitcoin treasury strategies, which has doubled since April.

Parataxis Holdings’ leadership believes that establishing a BTC treasury on an institutional platform will not only benefit shareholders but may also strengthen Korea’s financial sector. “We are incredibly excited to create the first BTC treasury company in South Korea backed by an institutional-grade platform,” said Chin.

Market Reaction and Outlook for Bitcoin Treasury Firms

The announcement caused Bridge Biotherapeutics to surge over 20%, reflecting market anticipation of the new strategy. Nevertheless, the shares are still down sharply year-to-date and since their all-time highs.

Additionally, the purchase follows the rise in popularity of Bitcoin-native treasury strategies among US and Japanese-listed firms. While such moves draw attention for their potential upside, analysts like Charles Schwab have cautioned that heavy exposure to Bitcoin can introduce risks if the asset price drops sharply.

Parataxis Holdings will provide additional information following its shareholder meeting in August, with Shin & Kim LLC and Deloitte acting as legal and financial advisers. The company is also closing another fund with a similar strategy and preparing to launch additional investment vehicles, demonstrating its commitment to institutional Bitcoin adoption in Asia.

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