AlphaTON sells biotech unit as Immunova exercises acquisition option

AlphaTON Capital Corp. is divesting part of its drug development portfolio as it sharpens focus on the Telegram blockchain ecosystem, announcing that Immunova has exercised a call option to acquire cancer-therapy developer iOx Therapeutics Limited.

Under the deal, AlphaTON will receive equity equal to 10% of Immunova’s fully diluted shares at exercise, plus milestone payments and royalties that could exceed $100 million.

The company said the move unlocks value from iOx while keeping long-term economic upside. AlphaTON, formerly Portage Biotech, will continue advancing other oncology programs while concentrating capital and strategy on infrastructure and investments tied to Telegram and The Open Network.

AlphaTON (ATON) shares trade around $0.47, down over 3% on the day and nearly 39% year-to-date.