Latest news with #ThomasChen
Yahoo
15-07-2025
- Business
- Yahoo
Function Raises $10M to Bring Yield to Bitcoin; Gets Backing From Galaxy Digital, Antalpha, and Mantle
Crypto infrastructure firm Function has closed a $10 million seed round led by Galaxy Digital (GLXY), with participation from Antalpha (ANTA) and Mantle, the company said in a press release on Tuesday. The round positions Function, formerly known as Ignition, at the forefront of a growing effort to unlock institutional yield opportunities from bitcoin (BTC), which remains the largest yet least-utilized digital asset in decentralized finance (DeFi). Function's flagship product, FBTC, a fully reserved and composable bitcoin representation, has already amassed $1.5 billion in total value locked (TVL), the company said. Function is positioning FBTC as the gateway for institutions and corporate treasuries to productively deploy bitcoin while maintaining full custodial control and 1:1 asset backing. The firm is entering the market as momentum builds around the institutional adoption of bitcoin, not just as a store of value, but as a yield-generating instrument. With Mike Novogratz's Galaxy joining as both an investor and core contributor, Function gains a heavyweight partner in scaling FBTC's institutional reach. Galaxy's involvement includes liquidity provisioning, governance and risk framework design, and strategic oversight. 'By 2026, treating bitcoin as a passive treasury asset may no longer be enough. The new standard will be actively earning yield' said Thomas Chen, CEO of Function, in emailed comments. 'We're evolving from wrapped assets to functional infrastructure that's programmable and institutional-grade to transform bitcoin into a productive asset class. Sophisticated allocators will demand their bitcoin work as hard as their cash. Those slow to adapt will underperform; forward-looking firms will win the next era of bitcoin yield.' Chen while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Insider
15-07-2025
- Business
- Business Insider
Function Ushers in the Era of Bitcoin Yield With Galaxy Digital as Investor in $10M Seed Round
New York, New York, July 15th, 2025, FinanceWire Backed by Galaxy Digital, Antalpha, and Mantle, FBTC Reaches $1.5B in TVL—Establishing the Gateway for Institutional Bitcoin Productivity. Function (formerly Ignition) today announced that Galaxy Digital (NASDAQ/TSX: GLXY) has joined as a core contributor and investor in its $10M seed round alongside Antalpha and Mantle. With strategic support from Galaxy, Mantle, and Antalpha (NASDAQ: ANTA), Function is transforming Bitcoin from a passive store of value into a productive, composable financial asset that can flow seamlessly across decentralized and traditional markets. FBTC—a fully reserved Bitcoin asset with over $1.5B in Total Value Locked—serves as the flagship asset, establishing Function as the definitive gateway for corporate treasuries and institutions seeking to deploy Bitcoin productively while maintaining security and sovereignty. Activating Bitcoin as a Yield Generating Asset Bitcoin's financial utility has reached a critical inflection point. With growing attention on strategic crypto reserves with the United States and Pakistan, and regulatory clarity enabling publicly traded companies like Microstrategy and MetaPlanet to adopt the Bitcoin Standard for corporate treasury, the question is no longer whether Bitcoin should evolve beyond a passive store of value, but how to unlock its productive potential at institutional scale. The Bitcoin Growth story needs to have utility in its next phase. 'At Function, we're not just wrapping Bitcoin—we're building the infrastructure and routing it into productive capital flows,' said Thomas Chen, CEO of Function. 'We're establishing the gateway for institutional Bitcoin yield, starting with FBTC as our standardized omnichain asset. This represents a structural shift in how Bitcoin participates in the global financial system, enabling corporate treasuries to optimize their Bitcoin holdings while preserving the asset's core properties.' Galaxy Strengthens Institutional Foundation Galaxy joins Mantle and Antalpha as core contributors to FBTC, enhancing the institutional infrastructure through: Enhanced Liquidity: Supporting the development of institutional-quality liquidity rails for seamless capital deployment Security Council Leadership: Contributing to governance, risk framework development, and security standards Strategic Investment: Accelerating the development of FBTC's standard infrastructure for Bitcoin's integration into global financial markets "Galaxy's partnership validates our vision of Function as the gateway for Bitcoin productivity," said Chen. "Their institutional expertise strengthens our mission to build the standard infrastructure that enables Bitcoin to flow freely across global financial markets." Jason Urban, Global Head of Trading at Galaxy, added: "I believe Function represents the next evolution in Bitcoin's journey toward becoming a productive financial asset. We're excited to contribute to the infrastructure that Function is building to establish Bitcoin as a capital-efficient reserve asset for global markets." Building on a Foundation of Trust and Security FBTC is a fully reserved, 1:1 Bitcoin-backed asset already integrated with over 8 major protocols and over 25 leading dApps, including Ethereum, Mantle, Aave, and Babylon. Purpose-built to meet the needs of institutions, DeFi protocols, and sophisticated participants, the platform is anchored by three foundational pillars: Institutional Trust & Security: Multi-layer security architecture, comprehensive risk management, and rigorous audit standards designed for institutional adoption Sustainable Yield & Liquidity: Smart contract architecture that maintains Bitcoin's 1:1 backing alongside transparent yield strategies and liquidity provisioning Omnichain & Composable Infrastructure: Seamless integration with major blockchain ecosystems—including Ethereum, Arbitrum, Mantle—and emerging institutional DeFi networks To learn more about Function and FBTC, users can visit About Function Function is pioneering a new standard for Bitcoin yield, transforming BTC into a secure, composable, and institutionally trusted asset across decentralized finance. FBTC represents the first omnichain Bitcoin yield asset, enabling BTC holders to participate in structured, risk-managed yield strategies. Function is supported by Galaxy Digital, Mantle, Antalpha Prime, and leading institutions. For more information, users can visit: Website | X/Twitter | LinkedIn About Galaxy Galaxy Digital Inc. (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. About Antalpha Antalpha (NASDAQ: ANTA) is a leading fintech company specializing in providing financing, technology, and risk management solutions to institutions in the digital asset industry. As the primary lending partner of Bitmain, Antalpha offers Bitcoin supply chain and margin loans through the Antalpha Prime technology platform, which allows customers to originate and manage their digital asset loans, as well as monitor collateral positions with near real-time data. About Mantle Mantle is building the largest sustainable hub for on-chain finance. Through its core products — Mantle Network, mETH Protocol, and FBTC — Mantle is unlocking the future of finance by blending institutional expertise with the transformative power of blockchain. Anchored by the Mantle Treasury, the largest community-owned treasury in the ecosystem, Mantle ensures robust liquidity and financial stability. With over $4.3 billion in assets, it actively funds core product development and fosters the growth of asset partners, such as Agora AUSD, Ethena USDe, Ondo USDY, and EigenLayer restaking, enhancing sustainable yield, deep liquidity, and financial utility on the Mantle Network. Contact
Yahoo
15-04-2025
- Business
- Yahoo
NeOnc Technologies Global Patent Portfolio Covers Core Pipeline Across All Major Pharmaceutical Markets
-- 176 Patents Issued and Outstanding Reinforces NeOnc's Competitive Position -- CALABASAS, Calif., April 15, 2025 (GLOBE NEWSWIRE) -- NeOnc Technologies Holdings, Inc. (NASDAQ: NTHI), a biopharmaceutical company focused on the development of novel oncology and neurology therapeutics, today announced that its global patent portfolio totals 176, reinforcing its competitive position. The Company's IP portfolio, covering its core pipeline, currently comprises 126 issued patents - 29 in the United States and 97 internationally; and 50 pending patents - 19 in the United States and 31 internationally. NeOnc's expanding IP portfolio reflects its innovation engine as well as its commitment to protecting and maximizing the commercial potential of its therapeutic candidates, globally. The Company's IP protections span all major pharmaceutical markets, including the U.S., European Union, China, Japan, Brazil, and Australia, as the Company advances its portfolio of next-generation therapeutics toward regulatory approval. 'Intellectual property is a cornerstone of our strategy, and the strength of our global patent portfolio reflects the depth of our innovation and the breadth of our ambition,' said Amir Heshmatpour, Executive Chairman and President of NeOnc Technologies. 'This portfolio enhances our ability to protect our breakthroughs in oncology and neurology, including our intranasal drug delivery platform, and safeguards our proprietary capability to bio-conjugate existing standard-of-care treatments like TMZ. Together, these protections ensure a strong foundation for long-term value creation for shareholders and life-changing solutions for patients.' NeOnc's lead programs — including NEO100, NEO212, NEO214, and NEO400 — are protected by extensive patent coverage, notably: NEO100, ultrapure perillyl alcohol, which is covered by eight U.S. patents expiring between 2031 and 2036, with potential extensions via the FDA's patent term extension program and additional exclusivity through NEO100's Orphan Drug Designation. NEO212 and NEO214, structurally unique perillyl alcohol conjugates, which benefit from Orange Book eligibility and new chemical entity data exclusivity provisions post-approval. NEO400, a topical anticancer agent, that recently has secured broad patent coverage in Europe, with similar filings underway globally. Additionally, the Company holds key patents for the use of its compounds in permeabilizing the blood-brain barrier, with protections extending into 2039. 'Our mission is to bring paradigm-shifting therapies to patients with some of the most challenging conditions, and our growing patent estate gives us the platform to do just that,' said Dr. Thomas Chen, CEO of NeOnc Technologies. 'We will continue to invest aggressively in IP as we advance toward clinical and regulatory milestones across our pipeline.' ABOUT NEONC TECHNOLOGIES HOLDINGS, Technologies Holdings, Inc. is a clinical-stage life sciences company focused on the development and commercialization of central nervous system therapeutics that are designed to address the persistent challenges in overcoming the blood-brain barrier. The company's NEO™ drug development platform has produced a portfolio of novel drug candidates and delivery methods with patent protections extending to 2038. These proprietary chemotherapy agents have demonstrated positive effects in laboratory tests on various types of cancers and in clinical trials treating malignant gliomas. NeOnc's NEO100™ and NEO212™ therapeutics are in Phase II human clinical trials and are advancing under FDA Fast-Track and Investigational New Drug (IND) status. The company has exclusively licensed an extensive worldwide patent portfolio from the University of Southern California consisting of issued patents and pending applications related to NEO100, NEO212, and other products from the NeOnc patent family for multiple uses, including oncological and neurological conditions. For more about NeOnc and its pioneering technology, visit Important Cautions Regarding Forward Looking Statements All statements other than statements of historical facts included in this press release are 'forward-looking statements' (as defined in the Private Securities Litigation Reform Act of 1995). Generally, such forward-looking statements include statements regarding expectations, possible or assumed future actions, business strategies, events or results of operations, including statements regarding expectations or predictions or future financial or business performance or conditions and those statements that use forward-looking words such as 'projected,' 'expect,' 'possibility' and 'anticipate,' or similar expressions. The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties, and assumptions. Actual results could differ materially from current projections or implied results. The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements following the date of this news release, whether because of new information, future events or otherwise, except as required by law. 'NEO100' is a registered trademark of NeOnc Technologies Holdings, Inc. Company Contact: Patrick WaltersChief Operations OfficerNeOnc Technologies Holdings, Inc. info@ Investor Relations: Roger Pondel / Laurie BermanPondelWilkinson Inc.(310) 279-5980rpondel@ in to access your portfolio
Yahoo
14-04-2025
- Business
- Yahoo
NeOnc Technologies Holdings, Inc. Expects Full Enrollment in Promising Phase 2a Trial of NEO100-01 for Malignant Gliomas in September
-- CALABASAS, Calif., April 14, 2025 (GLOBE NEWSWIRE) -- NeOnc Technologies Holdings, Inc. (NASDAQ: NTHI), a clinical-stage biopharmaceutical company focused on innovative treatments for central nervous system (CNS) cancers and disorders, today announced that it expects full enrollment in its Phase 2a clinical trial for its lead therapeutic candidate, NEO100-01 in September. Only six patients remain to complete the trial's 25-patient enrollment target. This landmark trial, for which read-out data is expected in early 2026, investigates NEO100, a proprietary, highly purified version of perillyl alcohol, delivered intranasally, a non-invasive method designed to bypass the blood-brain barrier through the olfactory and trigeminal nerves. NEO100-01 is the first intranasal therapy of its kind evaluated in malignant gliomas, particularly targeting IDH1 mutant Grade III and IV astrocytomas. Grade IV gliomas are among the most aggressive and deadly forms of brain cancer. 'We believe our intranasal delivery mechanism can present a breakthrough in central nervous system oncology, potentially offering a practical and elegant route to circumvent the blood-brain barrier,' said Dr. Thomas Chen, Chief Executive Officer and Chief Scientific Officer at NeOnc Technologies. 'Early data from our Phase 1 study provides support that patients with IDH1 mutations experienced extended survival post-recurrence with minimal side effects. We are optimistic that this approach could transform treatment outcomes for this patient population.' 'Reaching near full enrollment in the NEO100-01 trial, with only six patients remaining, is a positive and exciting development,' said Executive Chairman, Amir Heshmatpour. 'Our team believes we can meet the FDA's efficacy endpoints and deliver a positive outcome for patients battling these devastating tumors.' NEO100 has been granted both Orphan Drug Designation and Fast Track Status by the U.S. Food and Drug Administration (FDA), reinforcing its potential as a significant advancement in the treatment of malignant gliomas. ABOUT NEONC TECHNOLOGIES HOLDINGS, Technologies Holdings, Inc. is a clinical-stage life sciences company focused on the development and commercialization of central nervous system therapeutics that are designed to address the persistent challenges in overcoming the blood-brain barrier. The company's NEO™ drug development platform has produced a portfolio of novel drug candidates and delivery methods with patent protections extending to 2038. These proprietary chemotherapy agents have demonstrated positive effects in laboratory tests on various types of cancers and in clinical trials treating malignant gliomas. NeOnc's NEO100™ and NEO212™ therapeutics are in Phase II human clinical trials and are advancing under FDA Fast-Track and Investigational New Drug (IND) status. The company has exclusively licensed an extensive worldwide patent portfolio from the University of Southern California consisting of issued patents and pending applications related to NEO100, NEO212, and other products from the NeOnc patent family for multiple uses, including oncological and neurological conditions. For more about NeOnc and its pioneering technology, visit Important Cautions Regarding Forward Looking Statements All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Generally, such forward-looking statements include statements regarding expectations, possible or assumed future actions, business strategies, events or results of operations, including statements regarding expectations or predictions or future financial or business performance or conditions and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate," or similar expressions. The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties, and assumptions. Actual results could differ materially from current projections or implied results. The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements following the date of this news release, whether because of new information, future events or otherwise, except as required by law. 'NEO100' is a registered trademark of NeOnc Technologies Holdings, Inc. Company Contact: Patrick WaltersChief Operations OfficerNeOnc Technologies Holdings, Inc. info@ Investor Relations: Roger Pondel / Laurie BermanPondelWilkinson Inc.(310) 279-5980rpondel@ in to access your portfolio
Associated Press
14-04-2025
- Business
- Associated Press
NeOnc Technologies Holdings, Inc. Expects Full Enrollment in Promising Phase 2a Trial of NEO100-01 for Malignant Gliomas in September
-- Trial Read-Out Data Expected in Early 2026-- CALABASAS, Calif., April 14, 2025 (GLOBE NEWSWIRE) -- NeOnc Technologies Holdings, Inc. (NASDAQ: NTHI), a clinical-stage biopharmaceutical company focused on innovative treatments for central nervous system (CNS) cancers and disorders, today announced that it expects full enrollment in its Phase 2a clinical trial for its lead therapeutic candidate, NEO100-01 in September. Only six patients remain to complete the trial's 25-patient enrollment target. This landmark trial, for which read-out data is expected in early 2026, investigates NEO100, a proprietary, highly purified version of perillyl alcohol, delivered intranasally, a non-invasive method designed to bypass the blood-brain barrier through the olfactory and trigeminal nerves. NEO100-01 is the first intranasal therapy of its kind evaluated in malignant gliomas, particularly targeting IDH1 mutant Grade III and IV astrocytomas. Grade IV gliomas are among the most aggressive and deadly forms of brain cancer. 'We believe our intranasal delivery mechanism can present a breakthrough in central nervous system oncology, potentially offering a practical and elegant route to circumvent the blood-brain barrier,' said Dr. Thomas Chen, Chief Executive Officer and Chief Scientific Officer at NeOnc Technologies. 'Early data from our Phase 1 study provides support that patients with IDH1 mutations experienced extended survival post-recurrence with minimal side effects. We are optimistic that this approach could transform treatment outcomes for this patient population.' 'Reaching near full enrollment in the NEO100-01 trial, with only six patients remaining, is a positive and exciting development,' said Executive Chairman, Amir Heshmatpour. 'Our team believes we can meet the FDA's efficacy endpoints and deliver a positive outcome for patients battling these devastating tumors.' NEO100 has been granted both Orphan Drug Designation and Fast Track Status by the U.S. Food and Drug Administration (FDA), reinforcing its potential as a significant advancement in the treatment of malignant gliomas. ABOUT NEONC TECHNOLOGIES HOLDINGS, INC. NeOnc Technologies Holdings, Inc. is a clinical-stage life sciences company focused on the development and commercialization of central nervous system therapeutics that are designed to address the persistent challenges in overcoming the blood-brain barrier. The company's NEO™ drug development platform has produced a portfolio of novel drug candidates and delivery methods with patent protections extending to 2038. These proprietary chemotherapy agents have demonstrated positive effects in laboratory tests on various types of cancers and in clinical trials treating malignant gliomas. NeOnc's NEO100™ and NEO212™ therapeutics are in Phase II human clinical trials and are advancing under FDA Fast-Track and Investigational New Drug (IND) status. The company has exclusively licensed an extensive worldwide patent portfolio from the University of Southern California consisting of issued patents and pending applications related to NEO100, NEO212, and other products from the NeOnc patent family for multiple uses, including oncological and neurological conditions. For more about NeOnc and its pioneering technology, visit Important Cautions Regarding Forward Looking Statements All statements other than statements of historical facts included in this press release are 'forward-looking statements' (as defined in the Private Securities Litigation Reform Act of 1995). Generally, such forward-looking statements include statements regarding expectations, possible or assumed future actions, business strategies, events or results of operations, including statements regarding expectations or predictions or future financial or business performance or conditions and those statements that use forward-looking words such as 'projected,' 'expect,' 'possibility' and 'anticipate,' or similar expressions. The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties, and assumptions. Actual results could differ materially from current projections or implied results. The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements following the date of this news release, whether because of new information, future events or otherwise, except as required by law. 'NEO100' is a registered trademark of NeOnc Technologies Holdings, Inc. Company Contact: Patrick Walters Chief Operations Officer NeOnc Technologies Holdings, Inc. [email protected] Investor Relations: Roger Pondel / Laurie Berman PondelWilkinson Inc. (310) 279-5980 [email protected] [email protected]
