First Block, Onpharma Company, and Crito Capital Announce First Solana Sto for U.S. Medical Device Business

TheNewsCryptoPublicado a 2026-06-17Actualizado a 2026-06-17

Resumen

First Block, Onpharma Company, and Crito Capital announce the launch of what is described as the first Solana-based Security Token Offering (STO) for an established U.S. operating business. The STO represents a landmark transaction for tokenizing equity in a real-world company using the Solana blockchain, aiming to modernize capital formation with faster settlement, lower costs, and international accessibility for qualified investors. The offering is structured under Regulation S for non-U.S. investors. Onpharma, a dental medical device company, is the underlying business. Its Onset EZ product buffers dental anesthetic to improve patient experience and has an established revenue model. The company is positioned for growth in a multi-billion dollar market. First Block provides the digital securities infrastructure on Solana, while Crito Capital acts as the structuring and advisory firm. The STO is accessible at sto.onpharma.com.

London, United Kingdom, June 17th, 2026, Chainwire

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 deploys Solana blockchain infrastructure combining atomic settlement technology, programmable ownership architecture, and digital distribution capabilities, structured within existing U.S. securities law. Where traditional private markets have struggled with fragmented, multi-intermediary processes, the tokenised framework enables issuance, settlement, and cross-border distribution to qualified investors quickly, transparently, and at low cost. Secondary transactions occur on-chain across compatible wallets subject to KYC controls, delivering near-instantaneous settlement, secondary trading liquidity, and international accessibility under Regulation S and other applicable frameworks.

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 occupies a distinctive position in global dental technology. Its Onset EZ local anaesthetic buffering product is already used to buffer millions of dental injections annually, addressing the slow, uncomfortable, and unreliable performance of dental local anaesthetic that has remained largely unsolved for decades. The Onset EZ Pen requires no assembly or specialist training, integrating directly into existing workflows for an improved patient experience.

Onpharma sits at a post-validation, pre-scale inflection point: infrastructure, supply chain, regulatory compliance, and initial commercialisation are complete, while the growth phase is beginning. Septodont’s February 2025 market entry has validated anaesthetic buffering as an emerging standard of care, reducing category risk and increasing awareness. The disposable Onset EZ Pen provides operational leverage through scalable direct marketing, customer conversion, and repeat consumable revenue. The global dental anaesthesia buffering market is valued at $2bn and projected to reach $2.65bn by 2030. Capital raised will extend field sales and expand direct selling via the company’s recently deployed AI marketing tools.

The Infrastructure

First Block’s digital securities architecture underpins the transaction from issuance and compliance through to Solana-based settlement and distribution, compressing conventional private placement infrastructure, fragmented custodial arrangements, manual processing, multi-intermediary chains, into a single programmable, blockchain-enabled system built for the scale, speed, and wallet-level accessibility international investors increasingly require. Crito Capital LLP, an FCA-authorised investment banking and advisory platform focused on institutional capital formation, is providing structuring and advisory for the offering.

“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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Preguntas relacionadas

QWhat is the significance of the announced transaction for the Solana ecosystem and digital securities?

AIt is believed to be the first Solana-based Security Token Offering (STO) for an established U.S. operating business. This represents a structural turning point, bringing real operating company equity to Solana-based tokenised capital formation and is seen as the beginning of the convergence between capital markets and Solana-based securities infrastructure.

QWhat company is conducting the STO, and what is its core business?

AThe STO is for Onpharma Company, a U.S. medical device business. Onpharma develops dental technologies, specifically its Onset EZ local anaesthetic buffering product, which improves the reliability, onset time, and comfort of dental anaesthetic injections.

QAccording to the article, what are the key advantages of the tokenised framework used in this STO?

AThe tokenised framework enables issuance, settlement, and cross-border distribution to qualified investors quickly, transparently, and at low cost. It allows for secondary transactions with near-instantaneous settlement, secondary trading liquidity, and international accessibility, compressing traditional fragmented, multi-intermediary private market processes into a single programmable system.

QWho are the key partners involved in facilitating this STO, and what are their roles?

AThe key partners are First Block, Inc. and Crito Capital LLP. First Block provides the digital securities and tokenisation infrastructure, including Solana-based settlement architecture. Crito Capital, a UK-based FCA-authorised firm, provides structuring and advisory services for the offering.

QWho is eligible to invest in this Security Token Offering, and where can they find more details?

AThe offering is structured as a Regulation S offshore issuance, meaning it is available solely for non-U.S. persons in offshore transactions. It is not directed to U.S. persons or investors located in the United States. Additional details are available at the dedicated landing page: sto.onpharma.com.

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