Verseon blockchain move impresses City veteran
US pharma player Verseon – it’s listed on the London Stock Exchange with a £211m market cap – today confirmed it would be using blockchain tech via its subsidiary Blockrules. The news marks another move by pharma players in the direction of blockchain tech, with a strong supply chain bias.
New democracy in pharma space?
Current blockchain technology has the potential to transform the global investment landscape says Verseon. But token offerings need to comply with existing security regs if they are to become ubiquitous. Technology developed by its subsidiary BlockRules is designed to overcome these regulatory hurdles it claims.
“By democratizing investment access with blockchain technology,” says Adityo Prakash, CEO of Verseon, “we will change the way new medicines and other life-science innovations are funded and how the resulting proceeds are shared.”
City of London impressed
Verseon’s move has impressed City veteran investor Neil Woodford. “Recent advances in the blockchain space have the potential to narrow the gap between innovative companies and investors,” says 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.”
Woodford has taken some bruising in the last few years; his Woodford Equity Income Fund has disappointed retail investors, particularly against the FTSE All-Share and US retail stocks like Amazon, Apple and Facebook.