First Block, a digital securities infrastructure company, announced the launch of a new Security Token Offering (STO) together with Onpharma and Crito Capital. The companies say the deal is the first Solana-based STO for an established U.S. medical device business.
The offering allows ownership in Onpharma to be represented through blockchain-based security tokens instead of traditional share registers. The STO is structured under Regulation S, making it available to qualified investors outside the United States. The project uses the Solana blockchain to handle issuance, settlement, and distribution of securities.
First Block, a provider of tokenized securities infrastructure, developed the technology behind the transaction. The platform combines compliance tools, settlement systems, and investor access within a single blockchain-based framework. Crito Capital, a UK investment banking and advisory firm, is responsible for structuring and advisory services for the offering.
Onpharma, a developer of dental anesthesia solutions, is the company behind the investment opportunity. Its main product, Onset EZ, is designed to improve the performance of local anesthetics used in dental procedures.
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