Predictive Oncology Raises $344 Million in Crypto-Focused Private Placement for Aethir Token Strategy

Predictive Oncology Inc., a biotechnology company that uses artificial intelligence for cancer drug discovery, announced September 29 it will raise approximately $344.4 million through two private placement transactions to establish a digital asset treasury strategy focused on Aethir (ATH) tokens .

The Pittsburgh-based company, which trades on Nasdaq under the ticker POAI, structured the fundraising as two separate private investment in public equity (PIPE) transactions. The first involves a $51.7 million cash offering for approximately 66.7 million common stock shares at $0.7751 per share. The second consists of a $292.7 million crypto-focused placement offering pre-funded warrants for 223.6 million shares in exchange for in-kind contributions of Aethir tokens valued at $173.3 million in discounted value .

Predictive Oncology operates an AI and machine learning platform paired with a biobank of over 150,000 tumor samples to accelerate oncology drug development. The company will partner with Aethir, which operates one of the world's largest decentralized GPU networks spanning 435,000 GPU containers across 93 countries .

Aethir's infrastructure provides enterprise-grade AI computing services with 40-80% cost savings compared to traditional cloud providers, enabling rapid deployment within 24-48 hours instead of months. The network offers Nvidia GPUs-as-a-Service to researchers, startups, and enterprises for scaling AI workloads .

The transactions are expected to close concurrently on or about October 2, subject to customary closing conditions. Shawn Matthews, former CEO of Cantor Fitzgerald and current CEO of DNA Holdings, will join Predictive Oncology's board upon closing .

As part of the arrangement, the DCI Foundation will grant Predictive Oncology an additional 20% in ATH tokens for each token the company purchases on the open market through centralized or decentralized exchanges operating on the Ethereum network .

The company also announced a 1-for-15 reverse stock split effective September 30. DNA Holdings Venture Inc. serves as strategic advisor and investor in the cash portion, while H.C. Wainwright & Co. acts as exclusive placement agent for both transactions .

Raymond Vennare, Predictive Oncology's CEO and chairman, called the partnership with Aethir "a seminal event" that creates opportunities to solidify the core business while pursuing growth through the digital asset strategy. Dan Wang, Aethir's co-founder and CEO, said the partnership will help establish "the world's first Strategic Compute Reserve" .

The move represents an unusual pivot for a traditional biotech company into crypto assets, reflecting growing corporate interest in digital asset treasury strategies. Predictive Oncology intends to use the ATH tokens to fund its digital asset treasury while using remaining proceeds to acquire additional tokens and support working capital needs.

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