Drug Discovery Platform
Today brought the announcement of another upcoming security token offering. This upcoming event is to be held by biotechnology company, Verseon. The STO itself will be facilitated through a recently developed comprehensive platform by BlockRules.
This event will see the distribution of digital securities known as preferred shares. These will provide token holders with the rights to a proportionate share of future revenues from drug programs.
Verseon is working with regulators to ensure that the opportunity to participate in the sale extends throughout the globe. This means that accredited investors from the UK, US, EU, and more can all take part.
Verseons usage of the BlockRules platform is important to note, as it is what will allow for the STO to remain compliant in these various jurisdictions. Inconsistencies in regulation has always made international investing a tricky endeavour. With the advent of blockchain and STOs, this process has now become much more feasible.
Should this STO prove to be successful, it will not be surprising to see pharmaceutical companies begin hosting multiple of these events. Each event can potentially act as a funding program for one specific drug under development, with token holders entitled to revenue from the sale of that drug. This entire process stands to aid in the development of new drugs, as the manufacturing companies gain easier access to funding, greatly expediting the process.
In their press release, multiple representatives from Verseon took the time to express their thoughts on the upcoming STO.
“We are structuring our STO as one of the first truly global offerings backed by a prospectus…We are excited to pioneer this new funding model and share the rewards of our innovations with investors worldwide.”
“We believe that blockchain technology has the potential to transform fundraising by bringing efficiency, cost savings, and additional liquidity to capital markets…Regulations-compliant STOs give companies a new way to support growth and connect with a global investor community.”
Verseon is a Californian company that was founded in 2002. The company utilizes modern technology to effectively, and efficiently, discover new drugs and use cases.
Company operations are spearheaded by CEO, Adityo Prakash.
BlockRules is a subsidiary of Verseon, also functioning out of California. The company was founded in 2018 with the goal of developing an end-to-end STO platform. This goal was met, with the Verseon STO representing the first usage of this platform.
In Other News
The announcement of this STO marks the second time a large pharmaceutical company has delved into digital securities in recent months. Check out the article below to learn more about Agenus and their STO plans.