Catenaa, Wednesday, February 25, 2026- TON token-focused treasury firm AlphaTON Capital Corp. announced Tuesday it is selling its iOx Therapeutics cancer treatment subsidiary to Immunova.
Under the agreement, Immunova is exercising a call option to acquire iOx, which develops liposomal iNKT agonists for immuno-oncology applications.
AlphaTON will receive equity representing 10% of Immunova’s fully diluted shares at exercise, along with milestone payments and royalties that could surpass $100 million.
The sale aligns with AlphaTON’s pivot from biotech toward expanding the Telegram blockchain ecosystem.
The firm holds a large TON token stake and invests in infrastructure, applications, and assets across Telegram and The Open Network, including the decentralized Cocoon AI platform.
AlphaTON CEO Brittany Kaiser said the deal unlocks value from iOx while allowing long-term participation in its growth. She added the company will continue advancing its mesothelioma program, including plans to dose the first patient with its TT-4 treatment.
The subsidiary sale reflects AlphaTON’s broader strategy to concentrate on AI-driven biotech initiatives connected to Telegram, targeting rare cancers and blockchain-integrated development. The company was formerly Portage Biotech, a publicly traded firm focused on oncology, before rebranding and pivoting to TON-based investments.
AlphaTON stock (NASDAQ: ATON) was trading near $0.47 at publication, down more than 3% for the day and roughly 39% year-to-date, according to Google Finance. The transaction demonstrates AlphaTON’s effort to streamline operations while maintaining a stake in the biotech venture through equity and royalties.
