MDB Capital Holdings 2025: $5.7 M Cash Burn, $22.3 M Holdings and Spin-Off Plans
MDB Capital Holdings used $5.7 million net cash in 2025 and held $22.3 million against $10 million operating expenses, including $4 million in spin-off platforms PatentVest and MDB Direct. The company holds $30 million in eXoZymes equity and 7.1 million Paulex Bio shares from a $19 million seed round, with spin-offs planned for PatentVest and MDB Direct.
1. Financial Results Overview
In 2025, the company used approximately $5.7 million of net cash and held $22.3 million in cash and marketable securities at year-end. Fixed operating expenses totaled $10 million, including a $4 million investment in its spin-off platforms, PatentVest and MDB Direct.
2. Key Portfolio Holdings
MDB Capital holds around 4.1 million shares and warrants of eXoZymes valued at $30 million and 7.1 million Paulex Bio shares following a $19 million seed round that fully funds development. Additional advisory-earned positions in HeartBeam and Buda Juice position these profitable public firms for further growth.
3. Spin-Off and Future Plans
The firm is advancing PatentVest toward a standalone AI-enhanced IP law firm and pursuing a strategic partnership for MDB Direct's public ventures clearing platform to expand distribution into individual-investor channels. Clinical trials for Paulex Bio are expected later this year, with an IPO targeted for September 2026.