- Clinical-stage pharmaceutical company Verseon said it intended to undertake a security token offering in 2019.

The offering was expected to raise funds from a global investor base to accelerate the development of the company's pipeline of novel drug candidates.

The company is also exploring the use of blockchain technology to create a new funding model.

The security token offering was expected to use the technology and services of the company's subsidiary BlockRules to facilitate a regulations-compliant offering across various global jurisdictions.

"We believe that blockchain technology has the potential to transform fundraising by bringing greater efficiency, cost savings, and additional liquidity to capital markets,' said chief operating officer Eniko Fodor.

'Regulations-compliant STOs can give companies a new way to support their growth and connect with a global investor community.'

At 8:11am: [LON:VERS] share price was +74p at 74p

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