Landmark transaction brings real operating company equity to Solana-based tokenised capital formation
First Block deploys next-generation digital securities architecture for real- world operating business
Onpharma's medical device technology for dentistry brings recurring revenue, high gross margins and a significant market opportunity to a tokenised capital raise
This offering is available for investment at sto.onpharma.com
First Block, Inc., a digital securities and tokenisation infrastructure company, together with Onpharma Company (Delaware) and UK-based Crito Capital LLP, today announce the launch of what is believed to be the first Solana-based Security Token Offering ("STO") for an established U.S. operating business, a structural turning point in the modernisation of global private markets.
The Tokenisation Framework
The STO uses Solana chain tech. It mixes three key things. One is fast close tech. Two is own-share build. Three is give-out tools. All of this fits U.S. rule of law. Old private markets had a hard time. They had too many bits and steps. They had too many go-betweens. The new coin-based plan is much better. It lets you sell coins fast. It lets you close deals fast. It lets you send coins across lines. It works for top notch backers. It is quick and clear to see. It does not cost too much. Later trades also take place on chain. They work with wallets that can link up. All users must pass ID checks. The trades close in no time at all. This gives you a way to trade coins. You can trade with folks from all over. This works under Reg S and other rules too.
The STO Structure
A Security Token Offering represents and transfers ownership rights in a company's common stock via blockchain-based digital tokens rather than traditional share registers. The Onpharma STO is structured as a Regulation S offshore issuance to non-U.S. investors, combining the legal certainty of an exempt securities offering with the operational efficiency of Solana infrastructure, settling and distributing at speed and cost traditional private markets cannot match.
Onpharma: The Investment Case
Onpharma has a top spot in tooth tech. They work all round the world. Their Onset EZ tool helps with numbing. It is used on lots of teeth each year. It fixes a big old flaw. Numbing has been slow and rough. It has been bad for a long time. The Onset EZ Pen is so easy to use. You do not need to put it together. You do not need a big class to learn. It fits right in with your work. It makes the patient feel good.
Onpharma is in a key spot right now. They have passed the test phase. They are not yet at full scale. Their base work is all done. Their supply chain is set. Their rules are all met. Their first sales have been made. Now they are set to grow. Septodont joined the game in Feb 2025. They showed that buffering is a new must. This cut the risk for the whole field. It made more folks know about it.
The Onset EZ Pen is a one-use tool. It can be sold through ads and word of mouth. It turns new users into long term buyers. They will buy more each time. The whole tooth numb market is worth $2bn now. It will hit $2.65bn by 2030. The new cash will go to more sales staff. It will help them sell more with AI tools.
The Infrastructure
First Block has a new coin base system. It runs the whole deal from start to end. It starts with the first coin sale. It checks all the rules along the way. It ends with the pay out on Solana. Old ways had too many parts. They had split up safe keepers. They had lots of hand work. They had many go-betweens. All of this is now gone. First Block puts it all in one place. It is one smart chain-based system. It can grow to any size. It works at top speed. It gives each wallet its own view. Big global backers want this more and more. Crito Capital LLP helps with this deal. They are backed by the FCA. They do big cash and advice work. They help big groups raise funds. They set up the deal shape. They give sound advice on the sale.
"This is larger than a traditional financing," said Daniel P. Cannon, CEO of First Block. "We believe this transaction represents the beginning of the convergence between capital markets and Solana-based securities infrastructure. The STO itself is the story, but it starts with a real operating company, a real product, and exceptional revenue growth potential."
"Onpharma has spent years building a real operating business around a simple clinical objective: making local anaesthetic better for dentists and patients," said Matt Stepovich, Onpharma’s CEO. "This offering allows us to present a validated, revenue-generating medical device platform to a wider base of qualified international investors via a structure that reflects how capital markets are evolving. Combining Onpharma's real-world commercial traction with First Block's Solana-based securities infrastructure is an important step in making growth capital formation more efficient, accessible and transparent."
Additional details regarding offering structure and participation frameworks are available on the landing page for the STO offering linked here – sto.onpharma.com
About First Block Inc.
First Block Inc. is a blockchain infrastructure and digital securities company focused on compliant tokenisation, STOs, real-world-asset digitisation and Solana-based settlement architecture for global markets.
About Onpharma Company
Onpharma Company develops dental technologies focused on improving local anaesthetic in dentistry. Its Onset EZ Pen buffering platform improves anaesthetic reliability, accelerates onset time, and makes the dental anaesthetic injection more comfortable.
About Crito Capital LLP
Crito Capital LLP is a UK-based investment banking and advisory firm authorised and regulated in the UK, focused on institutional capital markets, strategic advisory, and emerging fintech.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, statements regarding Onpharma Company’s (the “Company”) business strategy, anticipated growth, market opportunity, product development, commercialization efforts, expected revenues, financing plans, digital asset initiatives, tokenization initiatives, regulatory matters, and future operations. These statements are based on current expectations, estimates, assumptions, and projections that involve significant risks and uncertainties, many of which are beyond the Company’s control. Actual results may differ materially from those expressed or implied by the forward-looking statements due to a variety of factors, including, without limitation, market conditions, regulatory developments, financing availability, competition, technological developments, product adoption, operational execution, and other risks and uncertainties. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.
This press release is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any offering of securities referenced herein will be made solely pursuant to definitive offering documents and in compliance with applicable securities laws and regulations. The offering referenced herein is intended solely for non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act and is not directed to, or intended for, U.S. persons or investors located in the United States.
Contact
Mr
Richard Morgan Evans
Sapience Communications
rmorganevans@sapiencecomms.co.uk
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