Enhanced Games Eyes Nasdaq Listing, Expands Into Consumer Health With Olympic-Level Competition
November 26, 2025
The Enhanced Games story marks a strategic shift since its 2023 inception, expanding beyond elite sports to include a consumer health products line as a core part of its business model.
The company plans a Nasdaq public listing aimed at raising about $200 million, after closing a $40 million convertible equity deal that can be exchanged for public shares when trading begins.
In six months, Enhanced will host a Las Vegas competition featuring Olympic-level athletes like Fred Kerley and Ben Proud across swimming, track, and weightlifting, with first prizes of $250,000.
Leadership reshapes the team: founder Aron D’Souza steps back from daily operations but remains a shareholder, while Maximilian Martin becomes CEO, Sid Banthiya takes the CFO role, and Rick Adams joins as chief sporting officer.
The company plans a dual public-facing strategy: a Nasdaq stock listing alongside a direct-to-consumer business selling performance-enhancement products to broaden access.
The leadership emphasizes merging scientific progress with elite performance to demonstrate health and longevity benefits under proper clinical supervision.
This report builds on prior AP News coverage regarding Enhanced Games and ongoing discussions about doping in the context of the program.
A central element is consumer health products launching in early 2026, including testosterone replacement medicines, with a mandate to democratize access to performance-enhancement tools under medical supervision.
Summary based on 9 sources
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Sources

ABC News • Nov 26, 2025
Enhanced Games to offer performance enhancers ... and stock ... to the public
AP News • Nov 26, 2025
Enhanced Games to offer performance enhancers to the public | AP News
