Core Viewpoint - MDB Capital Holdings, LLC reported its financial and operational results for the fourth quarter and full year ended December 31, 2025, highlighting its focus on launching disruptive technology companies through a public venture platform [1][4]. Financial Results - For the year 2025, MDB Capital's annual fixed operating expenses were approximately $10 million, which included a $4 million investment in the MDB Direct/Public Ventures clearing platform and PatentVest [7]. - The net cash used for the full year was approximately $5.7 million, with year-end cash and current assets totaling around $22.3 million after liabilities [7]. Key Assets and Strategic Developments - MDB holds approximately 4.1 million shares and warrants in eXoZymes, valued at about $30 million based on market prices as of March 30, 2026, focusing on cell-free biomanufacturing [7]. - Paulex Bio successfully closed a $19 million seed round in 2025, with MDB holding approximately 7.1 million shares and warrants; clinical trials are expected to begin later this year, targeting an IPO in September 2026 [7]. - PatentVest is advancing towards becoming a standalone AI-enhanced IP law firm, leveraging a proprietary patent database and positioned for significant value creation in the legal-tech sector [7]. - MDB Direct is in discussions for a strategic partnership to enhance value from its self-clearing asset and expand distribution into individual-investor channels [7]. - Additional equity positions were earned in HeartBeam and Buda Juice through advisory services, positioning these companies for further growth [7].
MDB Capital Holdings Provides 2025 Full Year Update and Shareholder Letter