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Clinical-stage biopharmaceutical company Artelo Biosciences has raised $9.5 million in fresh funding and announced the adoption of Solana (SOL) as a strategic treasury asset, marking a bold move into the digital asset space.
The capital raise, secured through a mix of institutional investors and private placements, is aimed at advancing the company’s cannabinoid-based therapeutic pipeline. However, in a notable shift from traditional treasury strategies, Artelo disclosed that a portion of the funds will be allocated to Solana as part of a broader diversification and yield enhancement strategy.
“Integrating Solana into our treasury reflects our confidence in blockchain as a transformative financial infrastructure,” said a company spokesperson. “We believe Solana’s speed, scalability, and ecosystem growth offer long-term value as a reserve asset.”
Artelo joins a growing number of forward-looking firms exploring crypto assets not just for speculation, but as core components of their financial strategy. The company emphasized that the decision followed careful analysis and aligns with its goal of optimizing capital reserves while participating in the decentralized economy.
Analysts view the move as both unconventional and opportunistic, especially for a biotech firm, highlighting the increasing cross-industry adoption of blockchain assets. While market risks remain, Artelo’s announcement may prompt other small-cap firms to consider similar steps as crypto becomes more embedded in corporate finance.