\nTNF Pharmaceuticals, Inc. (Nasdaq: TNFA<\/a>) (\u201cTNF\u201d or the \u201cCompany\u201d) today announced that it has entered into a licensing agreement for an innovative processing accelerator designed to expedite compute-intensive computations In partnership with LightSolver Ltd. (\u201cLightSolver\u201d), a company recognized by Gartner and the World Economic Forum for its breakthrough innovation. TNF holds exclusive rights to the use of its computing technology in cryptocurrency and blockchain applications. TNF intends to change its name in accordance with its new venture.<\/p>\n
\nLightSolver is the creator of the first laser-based processing unit (\u201cLPU\u201d) to harness light for computation, offering an accelerated computation method designed to outpace conventional GPUs, quantum computing, and high-performance computing (HPC) with greater speed and efficiency. Applied to cryptocurrency, this scalable technology will be designed to reduce energy costs by up to 90% and offer a potential pathway to fully sustainable infrastructure.<\/p>\n
\n\u201cWith LightSolver\u2019s LPUs, we believe compute-intensive combinatorial and physical problems can be solved at the speed of light\u2014orders of magnitude faster than other methods. At the same time, crypto infrastructure is still using outdated tools that aren\u2019t tailored for crypto applications. We are excited to partner with TNF to develop what we believe to be the first light-based computing system to blockchain,\u201d said Dr. Ruti Ben-Shlomi, Chief Executive Officer of LightSolver.<\/p>\n
\n\u201cWe believe LightSolver has created a disruptive computing paradigm that opens a new world of light speed computation,\u201d said Joshua Silverman, TNF\u2019s Executive Chairman. \u201cOur new partnership with LightSolver gives us exclusive access to quantum-inspired LPU-based systems capable of unlocking unprecedented performance and sustainability for the cryptocurrency industry. Alongside our new partnership, TNF is in late-stage discussions with a tech infrastructure and crypto mining expert to lead the development and commercialization strategy for our licensed technology.<\/p>\n
\n\u201cOur recent significant improvements in TNF\u2019s financial position enable us to be opportunistic in our business developments,\u201d Silverman added. \u201cWith LightSolver, we believe we are positioned to capitalize on the strong momentum behind both photonic computing and the future of cryptocurrency infrastructure. We believe we now have first mover advantages in a burgeoning industry\u2014a strategy that we believe best positions TNF for growth and value creation.\u201d<\/p>\n
\nLightSolver has secured grants from the European Innovation Council (EIC), an organization that promotes breakthrough innovation with scale-up potential at the global level. LightSolver\u2019s computing technology innovation has drawn world-class early adopters including a top-tier bank and aerospace companies, along with numerous prestigious accolades. LightSolver was recently named a 2025 World Economic Forum Technology Pioneer and was recognized as a sample vendor in Gartner\u2019s 2025 Hype Cycle for Data Center Infrastructure Technologies. LightSolver was cofounded by PhD physicists Ruti Ben-Shlomi and Chene Tradonsky from the Weizmann Institute of Science, one of the world\u2019s leading multidisciplinary basic research institutions in the natural and exact sciences.<\/p>\n
\n\u201cWe believe LightSolver\u2019s computing leap is similar in significance to technology\u2019s upgrade from slow form dial-up internet to high-speed fiber internet,\u201d Dr. Ruti Ben-Shlomi continued. \u201cOur LPUs tackle problems that are unfeasible for classical supercomputers due to their memory bottlenecks and energy inefficiency. For cryptocurrency applications, laser-based computing is intended to reduce heat and power waste with the speed and efficiency of light\u2014transforming how mining, proof-of-work, and decentralized computing scale.\u201d<\/p>\n
\nLightSolver\u2019s IP-protected LPU offers distinct advantages over quantum computing. It operates in a highly parallel mode within an optical resonator with a clock-time of a few nanoseconds to execute complex computations. It is less demanding in terms of environmental conditions, with no vacuum or ultracold temperatures required. Second, LightSolver\u2019s LPU is only the size of a rack unit. Further, it is less demanding in terms of environmental conditions with no vacuum or ultracold temperatures required.<\/p>\n
\nTNF also announced today that it has entered into a securities purchase agreement for a $7.0 million private placement financing, including the Company\u2019s largest strategic stockholder and other existing stockholders, involving the sale of 7,000 shares of its newly created Series H convertible preferred stock (\u201cpreferred stock\u201d), with a stated value of $1,000 per share, convertible into shares of its common stock following receipt of the requisite stockholder approval and accompanying common stock purchase warrants, which is expected to close on or about September 4, 2025, subject to the satisfaction of customary closing conditions.<\/p>\n
\nThe shares of preferred stock have an initial conversion price of $5.00 per share. The warrants are exercisable following the receipt of the requisite stockholder approval, have an initial exercise price of $5.00 per share and expire five years from the date of stockholder approval.<\/p>\n
\nThe securities in the private placement were offered and sold in transactions exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws.<\/p>\n
\nThis press release is not an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.<\/p>\n
\nTNF continues to evaluate strategic, value-enhancing options for its legacy therapeutic platforms, including its oral TNF-alpha inhibitor (isomyosamine) and Supera-CBD, as part of its ongoing commitment to maximizing shareholder value.<\/p>\n
\nRodman & Renshaw, LLC, H.C. Wainwright & Co. and GP Nurmenkari Inc. (GPN) are acting as placement agents on the transaction.<\/p>\n
\nAbout LightSolver<\/b><\/p>\n
\nLightSolver is the inventor of an all-optical computing technology capable of solving complex and large computational problems at the speed of light. Utilizing the interference patterns of lasers, the Laser Processing Unit\u2122 (LPU) can tackle challenges that were previously constrained by the limits of electronics, while fitting into a rack unit and operating at room temperature. Dr. Ruti Ben-Shlomi and Dr. Chene Tradonsky, physicists from the world-renowned Weizmann Institute, founded the company in 2020.<\/p>\n
\nlightsolver.com<\/a><\/p>\n \nCautionary Statement Regarding Forward-Looking Statements<\/b><\/p>\n \nThis press release may contain forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and neither the Company nor its affiliates assume any duty to update forward-looking statements. Words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cmay,\u201d \u201cplan,\u201d \u201cwill,\u201d \u201cwould\u2019\u2019 and other similar expressions are intended to identify these forward-looking statements and include statements related to the completion of the private placement and the satisfaction of customary closing conditions related to the private placement, the expected benefits from the licensing agreement with LightSolver and performance of LightSolver\u2019s technology. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: unanticipated financial setbacks, the Company needing to pursue financing options that could adversely impact our liabilities due to adverse market conditions, the Company\u2019s ability to maintain compliance with the Nasdaq Stock Market\u2019s listing standards; the timing of, and the Company\u2019s ability to, obtain and maintain regulatory approvals for clinical trials of the Company\u2019s pharmaceutical candidates; the timing and results of the Company\u2019s planned clinical trials for its pharmaceutical candidates; the amount of funds the Company requires for its pharmaceutical candidates; increased levels of competition; changes in political, economic or regulatory conditions generally and in the markets in which the Company operates; the Company\u2019s ability to retain and attract senior management and other key employees; the Company\u2019s ability to quickly and effectively respond to new technological developments; and the Company\u2019s ability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others and prevent others from infringing on the Company\u2019s proprietary rights. A discussion of these and other factors with respect to the Company is set forth in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2024, filed by the Company on April 11, 2025, and subsequent reports that the Company files with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20250902945912\/en\/<\/a><\/p>\n<\/p>\n