New York-based Parataxis Holdings, a digital asset investment firm, has signed a definitive agreement to acquire a controlling interest in South Korea’s Bridge Biotherapeutics Inc. The acquisition will be done through its Parataxis Korea Fund I and affiliated entities, a press release stated. The deal, valued at 25 billion Korean Won, marks a bold strategic pivot, transforming a biotech firm into a Bitcoin-native treasury platform listed on the KOSDAQ exchange.
Once the transaction closes, pending shareholder approval, Bridge Biotherapeutics will be rebranded as Parataxis Korea, signaling a new chapter for the company. The move is inspired by the growing institutional appetite for Bitcoin treasury strategies, following in the footsteps of U.S.-based Strategy and Japan’s Metaplanet.
Edward Chin, Founder and CEO of Parataxis Holdings and Co-Founder of Parataxis Capital, will join the company’s board. Andrew Kim, a Partner at Parataxis Capital, will take over as CEO and board member. Meanwhile, Bridge Bio’s Co-Founder James Jungkue Lee will continue to lead the biotech division and retain his board seat, ensuring continuity in the company’s original therapeutic focus.
The acquisition aims to establish a Bitcoin-centric reserve platform in South Korea’s public markets, backed by institutional investors with deep experience in digital assets. According to Chin, the finite nature of Bitcoin and its rising global relevance make it a strategic asset for long-term value creation, not just for shareholders, but for the broader South Korean economy.
Parataxis Holdings is also preparing to launch additional fund vehicles with similar strategies, signaling a broader push into the institutional Bitcoin space. A shareholder meeting is expected in August, where more details about the transition and future roadmap will be unveiled.