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Verseon Pioneers New Way of Funding Innovation Through Security Token Offering

March 18, 2019

FREMONT, Calif.--(BUSINESS WIRE)--Mar 18, 2019--Verseon is launching a security token offering (STO) aiming to set a new standard for the 21 st century public offering to a globally connected investor base. To make its STO available to investors around the globe, Verseon will use the technology and services of its subsidiary BlockRules Ltd.

Using its innovative, computationally driven drug discovery platform, clinical-stage pharmaceutical company Verseon has built a rapidly growing pipeline of unique drug candidates across multiple disease areas. Verseon’s pipeline includes precision oral anticoagulants currently in clinical trials, oral treatments for diabetic eye disease, and next-generation chemotherapy agents, among others. Through its STO, Verseon is now also pioneering the use of blockchain technology for funding innovation.

“We believe that blockchain technology has the potential to transform fundraising by bringing efficiency, cost savings, and additional liquidity to capital markets,” said Eniko Fodor, COO of Verseon. “Regulations-compliant STOs give companies a new way to support growth and connect with a global investor community.”

Because of their global reach, STOs are subject to the regulations of all the countries where the tokens are sold and traded. Until recently, no comprehensive solution was available that could enforce complex regulations in a reliable and transparent manner. BlockRules has solved this key issue with the BlockRules Compliance Engine that operates completely on the blockchain for maximum security and transparency. The Compliance Engine will support the regulations-compliant issuance, sale, and trading of Verseon’s security tokens to an international investor base.

Verseon’s security token will be a form of a preferred share that grants its holder rights to a percentage of the company’s future drug program revenues. Initially, Verseon will offer its token in a private sale, followed by a public token sale.

Verseon is currently working with regulators on a prospectus for the token. Approval of the prospectus will make the security token available to investors in the UK and EU and investors in certain other jurisdictions where the company will seek additional approval from local regulators. The token will remain available to accredited investors, including those in the US.

“We are structuring our STO as one of the first truly global offerings backed by a prospectus,” said Adityo Prakash, CEO of Verseon. “We are excited to pioneer this new funding model and share the rewards of our innovations with investors worldwide.”

About Verseon

Verseon Corporation (AIM: VERS) is developing disruptive life-science technology to advance global health. The clinical-stage company is using its proprietary, computational drug discovery platform to discover new drug candidates that are unlikely to be found using conventional methods. Pairing its computational engines with a comprehensive in-house chemistry and biology workflow, the company has built a growing pipeline of drug programs. Verseon currently has four active drug programs in the areas of anticoagulation, diabetic macular edema, hereditary angioedema, and oncology.

Find Verseon on Twitter and LinkedIn.

About BlockRules Ltd.

BlockRules Ltd., a wholly owned subsidiary of Verseon Corporation, is a blockchain technology company supporting the regulations-compliant sale, launch, and trading of tokenized securities. The company’s Compliance Engine can enforce multijurisdictional regulatory compliance directly on the blockchain. In this way, BlockRules facilitates issuance and decentralized trading that is secure, transparent, and verifiable.

Find BlockRules on Twitter, Telegram and LinkedIn.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190318005263/en/

CONTACT: Verseon Corporation—Tina Schlafly

+1 510 225 9014

www.verseon.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE HEALTH BIOTECHNOLOGY CLINICAL TRIALS ONCOLOGY PHARMACEUTICAL DIABETES

SOURCE: Verseon

Copyright Business Wire 2019.

PUB: 03/18/2019 03:00 AM/DISC: 03/18/2019 03:01 AM

http://www.businesswire.com/news/home/20190318005263/en