Yulong Eco-Materials Limited / EV Biologics, Inc. (OTC PINK:YECO) today announced that it intends to list its Securitized Token Offering “STO” on the CryptoSX digital exchange.
CryptoSX is a fully licensed and regulated Digital Assets Exchange that allows issuers to tokenize and investors to buy and sell digital assets including assisting issuers to securitize assets, such as public company securities, real estate, art, antiques and other valuable assets. The Exchange recently integrated itself with Ravencoin to accommodate STO’s utilizing its blockchain. Along with its existing Ethereum platform, it intends to become fully compliant with the U.S. Securities and Exchange Commission and with FINRA. CryptoSX welcomes companies from around the world to securitize their assets, raise capital for business development and expansion and as a platform for secondary trading.
CryptoSX CEO, Philip Tam said “we are thrilled to have EV Biologics list their token on our exchange. They are truly a pioneering firm in both funding and in cutting edge medical science! We see CryptoSX as the digital version of a worldwide “over the counter” marketplace for startups to mature companies.”
Security Token Offering (STO)
The token will be a SEC registered security to be issued by EV Biologics on an Ethereum-based financial instrument intended to fund the development of the first extracellular vesicle (EV) based biological drug for the treatment of acute lung injury “ALI”. ALI is the core pathophysiologic (the abnormal function of the body’s processes associated with disease or injury) process which leads to widely known and potentially fatal diseases including COVID-19, influenza and acute respiratory distress syndrome. Mesenchymal stem cell-derived extracellular vesicles (MSC-EVs) have demonstrated multiple intrinsic biological properties that conferred therapeutic benefits in preclinical studies.
Acute Lung Injury is the central mechanism contributing to the worldwide tragedy that is affecting millions of people, and for which there is no effective drug currently available. Also commonly caused by trauma, sepsis, pneumonia and drug toxicity, ALI is initiated by an inflammatory process that damages the delicate barrier that separates the air spaces of the lungs from the circulation. This inflammation precipitates a cytokine storm that injures the cells that make up this barrier and the junctions between them. The ensuing disruption of normal gas exchange in the lungs causes inadequate oxygenation of the blood and can progress to the most severe form of ALI: acute respiratory distress syndrome (ARDS), which may have up to a 50% mortality rate. Presently, there is no effective pharmacological intervention for ARDS.
The ALI token holder will be directly funding the battle against this deadly disease and will be an integral partner with EV Biologics in the development of the Extracellular Vesicles specifically designed to combat ALI.
CEO Daniel Mckinney, said “We are the first biotech company in the world to issue a STO for funding R&D and trade the token on a licensed digital exchange. We look forward to working closely with CryptoSX.”
We are now updating and developing our new website to include the STO details and when we plan to list the token on the CryptoSX exchange. Our STO financing will not require the issuance of any shares, thus minimizing dilution of existing shareholders.
The Company is preparing its updated accounting and intends to become fully reporting again before the end of Q4, 2020. YECO was previously a Nasdaq listed company and intends to up-list to OTCQB, then to a mainboard exchange again.
For more information about STO’s please click on this link: https://link.medium.com/Ttu2cLrZQ9
With the empowerment of world-leading technologies, CryptoSX is building a cutting edge crypto exchange platform for STOs backed by Fiat/Crypto conversion capabilities. They are significantly involved in assisting companies in STO primary listings, STO secondary trading and to develop and launch a substantial decentralized finance “DeFi” business, including crypto lending.
CryptoSX is compliant with all of the applicable financial and virtual exchange policies and regulations of the Philippine government under CEZA (Cagayan Economic Zone Authority). CryptoSX was awarded a Full Principal License by CEZA in 2018. Since then, CryptoSX has been working very closely with CEZA to further develop and enhance the STO listing procedures, compliance and reporting requirements. It is one of the very few exchanges that is operating with such a relevant license in Asia.