U.S.-based investment firm Parataxis Holdings LLC has signed a definitive agreement to acquire a controlling interest in Bridge Biotherapeutics Inc., a South Korean biotechnology company listed on the KOSDAQ. The transaction, valued at KRW 25 billion (approximately $18 million), is expected to close following shareholder approval and other customary closing conditions.
As part of the agreement, Bridge Biotherapeutics will be renamed Parataxis Korea and will continue trading on the South Korean stock exchange. The investment will be made through Parataxis Korea Fund I LLC and related affiliates, marking Parataxis Holdings’ first major acquisition in the South Korean public market.
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New Leadership, Strategic Shift Toward Digital Assets
Following the closing of the deal, Andrew Kim, a partner at Parataxis Capital Management LLC, will be appointed Chief Executive Officer of the restructured company. Edward Chin, CEO of Parataxis Holdings and co-founder of Parataxis Capital, will join the board of directors. James Jungkue Lee, co-founder of Bridge Biotherapeutics, will remain on the board and continue overseeing the biotech operations.
The rebranded Parataxis Korea is expected to pivot toward managing Bitcoin-focused treasury assets, establishing what it calls a “Bitcoin-native treasury platform.” The strategy echoes recent trends in corporate treasury management observed in firms such as Strategy in the United States and Metaplanet in Japan.
“Inspired by the growing interest in BTC treasury strategies seen in companies like Strategy in the US and Metaplanet in Japan, we believe institutional interest in this space is increasing globally,” said Andrew Kim.
BTC Treasury Model, Additional Funds in Development
The transaction signals a broader move by Parataxis Holdings to integrate Bitcoin holdings into the balance sheets of public companies in Asia. Chin noted the long-term value of Bitcoin’s fixed supply and emphasized its strategic potential as part of a corporate treasury model.
In parallel to the acquisition, Parataxis Holdings is also finalizing a separate investment fund focused on a similar strategy and has plans to launch additional vehicles targeting digital asset exposure for institutional investors.
A shareholder meeting is expected in August, at which more details about the proposed changes will be discussed. Legal advisory services for the transaction are being provided by Shin & Kim LLC, while Deloitte serves as the financial advisor.
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Bridge Biotherapeutics was founded in 2015 and is known for its research and development of novel therapies in oncology, fibrosis, and inflammatory diseases. The company’s biotech operations are expected to continue under the new structure.
