Immunotherapy company Enlivex has secured $21 million through a debt financing agreement to purchase an additional 3 billion tokens linked to the prediction market platform Rain.
On Tuesday, Enlivex said it exercised an option to acquire 3 billion Rain (RAIN) tokens at a 62% discount for $10 million, while extending its option to purchase another 272.1 billion RAIN tokens at the same price through December 2027. The financing was provided by New York-based asset manager The Lind Partners.
“We are continuing to execute our prediction markets treasury strategy and are pleased that Lind provided substantial capital,” said Enlivex Executive Chair Shai Novik. “This allows us to continue implementing our operating plan and acquire approximately three billion additional RAIN tokens.”
While Enlivex develops cell therapy solutions for knee osteoarthritis, it is among several non-crypto companies buying cryptocurrencies to bolster their balance sheets and attract a broader investor base.
The company also announced a $20 million share buyback program aimed at enhancing shareholder value.
The value of Enlivex’s RAIN holdings is directly tied to Rain’s decentralized prediction market platform, which charges a 2.5% fee that automatically buys back and burns RAIN tokens, aiming to improve supply-demand dynamics.
Following Enlivex’s announcement, the RAIN token initially jumped 7% to $0.009 before easing slightly to $0.0088, trading largely flat over the past 24 hours with a 0.3% gain, according to CoinGecko. Enlivex shares (ENVL) also traded mostly flat on Tuesday, closing down 0.9% at $1.10, before rising 4.5% in after-hours trading to $1.15.
Rain runs on the Ethereum Layer-2 Arbitrum network and ranks among the top 10 prediction market platforms by total value locked and fees over the past seven days, according to DeFiLlama data.
Prediction markets have emerged as one of the fastest-growing crypto use cases, with trading volumes surging over 1,200% to $23.3 billion between February 2025 and February 2026. However, the market remains dominated by Kalshi and Polymarket, which together account for more than 80% of trading volumes.
