AlphaTON sells the pharmaceutical sector, focusing on the Telegram ecosystem

AlphaTON Capital Corp. announced that Immunova has exercised a call option to acquire iOx Therapeutics Limited — a wholly owned subsidiary of AlphaTON that specializes in developing cancer therapies.

Under the agreement, AlphaTON will receive approximately 10% of Immunova’s fully diluted shares at the time of exercise, along with milestone payments and royalties, with a total potential value exceeding $100 million.

AlphaTON was restructured from Portage Biotech and is scaling back its pharmaceutical manufacturing division to focus on investment and treasury strategies centered around the blockchain ecosystems of Telegram and The Open Network.

ATON shares are currently trading around $0.47, down more than 3% for the day and nearly 39% since the beginning of the year.