French biotech company HCS Pharma has announced the public opening of a Security Token Offering (STO) on the EDSX cryptocurrency platform.
EDSX is one of the first platforms in Europe to provide a primary and secondary market for security tokens.
HCS aims to raise between five and seven million euros to strengthen its position as a developer of regenerative medicine and cellular therapy.
The company develops and distributes products for growing human and animal cells in an artificially created organ-like environment.
HCS Pharma has so far raised €2M on Capital Cell, Europe’s first healthcare-focused participative financing platform.
Capital Cell director, Daniel Oliver, said:
“We are delighted with the success of the HCS Pharma fundraising, a pioneering transaction for Cell Capital that marks a fantastic start to our expansion plans in Europe.”
HCS also plans to list on the Frankfurt Stock Exchange in Q3 of this year and on the Nasdaq within the next 12 months.
Tokens acquired through the STO will be converted into shares as soon as the listing takes effect.
The listing will also free up US$20m financing secured from an American family office.
HCS Pharma’s BIOMIMESYS technology is based on a 3D cell culture system that replicates the biological environment and enables better results for research and biological testing.
