Pharma Firm Verseon To Use Blockchain For Drug Development Funding

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U.S.-based pharma company Verseon plans to use blockchain technology for drug development funding through tokenization of securities. The technology is developed by its unit, BlockRules Ltd.

BlockRules' token platform supports the sale, launch, and trading of financial securities on a public blockchain. It also authenticates token transactions on the blockchain to ensure regulatory compliance, and also supports decentralized trading.

Founded in 2002, Verseon has been engaged in developing disruptive technologies and products to advance global health. The current initiative is expected to help medical and pharma companies fund and accelerate life-saving developments.

Blockchain technology is transforming the financial industry and has created a new community of investors looking for real and relevant investment opportunities.

Verseon CEO Adityo Prakash says he is looking to change the way new medicines and other life-science innovations are funded and how the proceeds are shared by democratizing access to investment using blockchain technology.

Meanwhile, BlockRules plans to offer its technology to innovative companies as well as investment communities.

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