Bradmer Pharmaceuticals Inc. shareholders voted to approve its merger with advisory firm First Coin Capital and digital asset bank Galaxy Digital.

The proposed deal would be a reverse takeover of Bradmer by the other two companies, leading to a reactivated listing for the Toronto-based pharmaceutical company on the TSX Venture Exchange.

More than 99% of shareholders voted in favor of the arrangement during Bradmer's annual general and special meeting June 11.

"These votes represent a significant step forward in completing our reverse takeover transaction. We look forward to building a world-class crypto merchant bank alongside our equity partners," Michael Novogratz, CEO and founder of Galaxy Digital, said in a statement.