Verseon Corporation Verseon unveils new blockchain technology (0404B)

TIDMVSN

RNS Number : 0404B

Verseon Corporation

18 September 2018

Press release September 18, 2018

Verseon Corporation

("Verseon" or the "Company")

Verseon unveils new blockchain technology

Blockchain initiative will enable medical and pharma companies to fund and accelerate life-saving developments

Fremont, Calif.-Verseon today unveils transformative blockchain technology for tokenized securities, developed by its wholly owned subsidiary, BlockRules Ltd. Since its founding in 2002, Verseon's mission remains to develop disruptive technologies and products that advance global health. As part of this goal, the company is challenging traditional drug development funding models through the process of tokenization of securities.

BlockRules technology supports the sale, launch, and trading of securities on a public blockchain complete with multijurisdictional regulatory compliance integrated and enforced directly on the blockchain. This breakthrough permits fully regulated, secure, and transparent support of securities, including decentralized trading.

Current blockchain technology has the potential to transform the global investment landscape. To accomplish that, token offerings need to comply with existing security regulations if they are to become ubiquitous. The technology developed by BlockRules is designed to overcome these regulatory hurdles.

"We founded Verseon with the goal of developing new technologies to advance the discovery and development of new medicines," said Adityo Prakash, CEO of Verseon. "By democratizing investment access with blockchain technology, we will change the way new medicines and other life-science innovations are funded and how the resulting proceeds are shared."

BlockRules Ltd. plans to offer its technology to innovative companies ready to embrace the rapidly developing blockchain community. By bringing regulatory certainty to the blockchain, BlockRules aims to provide the global investment community with safer and more relevant opportunities for investment.

"Recent advances in the blockchain space have the potential to narrow the gap between innovative companies and investors," said Neil Woodford, founding partner of Woodford Investment Management*. "Verseon's innovations in this space address some of the traditional choke points in capital flow and should lead to a more efficient market."

About BlockRules Ltd.

BlockRules Ltd., a wholly owned subsidiary of Verseon, is a blockchain technology company supporting the sale, launch and trading of securities. By enforcing multijurisdictional regulatory compliance directly on the blockchain, the company facilitates issuance and decentralized trading that is secure, transparent and verifiable. BlockRules Ltd. handles the registration of investor KYC ("know your customer") information for its products and is providing this service to prospective investors at https://www.blockrules.com.

About Verseon

Verseon Corporation (www.verseon.com, AIM: VSN) is developing disruptive life-science technology to advance global health. The clinical-phase Company is using its proprietary, computational drug discovery platform paired with a comprehensive in-house chemistry and biology workflow to build a growing drug development pipeline. Through its wholly owned subsidiary BlockRules Ltd., Verseon is also pioneering blockchain technology for regulated securities.

*Woodford Investment Management is a shareholder in Verseon

-Ends-

For further information, please contact

 
 Verseon Corporation                          www.verseon.com 
 Sebastian Wykeham                          [phone] 
 
 Arden Partners (NOMAD and Joint Broker) 
                                              [phone] 
 Ruari McGirr / Maria Gomez De Olea                      5900 
 
 Cantor Fitzgerald Europe (Joint Broker) 
                                              [phone] 
 Marc Milmo / Phil Davies                                7000 
 

For financial and business media enquiries, please contact

 
 Buchanan Communications Ltd (PR Advisers) 
                                              [phone] 
 Henry Harrison-Topham / Jamie Hooper                    5000 
 

For trade and pharma media enquiries, please contact

 
 Vane Percy & Roberts 
                         [phone] 
 Simon Vane Percy                     890 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCLRMLTMBMBBFP

(END) Dow Jones Newswires

September 18, 2018 02:01 ET (06:01 GMT)