First Block, Onpharma Company and Crito Capital Announce First Solana STO for US Medical Device Business – Crypto News

June 17, 2026 – London, United Kingdom

Landmark transaction brings real operating company equity to Solana-based tokenized 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 tokenized capital raise.

This offering is available for investment here.

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 STO (security token offering) for an established US operating business – a structural turning point in the modernization of global private markets.

The tokenization framework 

The STO deploys Solana blockchain infrastructure combining atomic settlement technology, programmable ownership architecture and digital distribution capabilities, structured within existing US securities law.

Where traditional private markets have struggled with fragmented, multi-intermediary processes, the tokenized 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 

An STO 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-US 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 anesthetic buffering product is already used to buffer millions of dental injections annually, addressing the slow, uncomfortable and unreliable performance of dental local anesthetic 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 commercialization are complete, while the growth phase is beginning.

Septodont’s February 2025 market entry has validated anesthetic 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 anesthesia buffering market is valued at $2 billion and projected to reach $2.65 billion 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 and 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-authorized investment banking and advisory platform focused on institutional capital formation, is providing structuring and advisory for the offering.

Daniel P Cannon, CEO of First Block, said,

“This is larger than a traditional financing.

“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.”

Matt Stepovich, CEO of Onpharma, said,

“Onpharma has spent years building a real operating business around a simple clinical objective: making local anesthetic better for dentists and patients.

“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.

About First Block Inc.

First Block Inc. is a blockchain infrastructure and digital securities company focused on compliant tokenization, STOs, RWA (real-world-asset) digitization and Solana-based settlement architecture for global markets.

About Onpharma Company

Onpharma Company develops dental technologies focused on improving local anesthetic in dentistry.

Its Onset EZ Pen buffering platform improves anesthetic reliability, accelerates onset time and makes the dental anesthetic injection more comfortable.

About Crito Capital LLP

Crito Capital LLP is a UK-based investment banking and advisory firm authorized 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-US persons in offshore transactions pursuant to Regulation S under the Securities Act and is not directed to, or intended for, US persons or investors located in the United States.

Contact

Richard Morgan Evans, Sapience Communications