VICTORIA, Seychelles--(BUSINESS WIRE)--Smart Pharma Group, a subsidiary group of Aptorum Group Limited (Nasdaq: APM), is excited to share that our Smart Pharma Token (“SMPT token”), traded publicly for the first time at 2:00 pm, 10 July 2019 (UTC+8:00), on IDAX (https://www.idax.pro/). Trading is initially open for trading across SMPT/BTC (Bitcoin) and SMPT/ETH (Ethereum) trading pairs only; and SMPT debuted at the equivalent price of about US$0.025 per token. As at 12:00 am, 11 July 2019 (UTC+8:00), the token is trading in Dollar terms at about US$0.0253 per token
Based on valuation methodologies and assumptions described in the Smart Pharma Token (SMPT) Token Economy Appendix (https://www.smtph.io/doc/token-paper.pdf?v=2.2), the debut price of US$0.025 and referenced trading price of US$0.0253 per token, currently values the underlying repurposed and new drug discovery platform, Smart-ACT™ between US$169 million and US$171 million. Since the tokens are not a liquid market, this valuation is merely an estimate based upon the prices noted herein and we have not made any independent verification of such valuation; there is no guarantee that such valuation will be maintained.
More details on SMPT and Smart-ACT™ are provided below.
About the SMPT token:
The SMPT token is an ERC-1404 security compliant token with ERC-20 and ERC233 compliance on the Ethereum blockchain. SMPT tokenizes rights to a portion of the royalty income derived from the eventual commercialization of intellectual property rights of drug candidates to be discovered under our Smart-ACT™ platform.
About the Smart-ACT™ platform:
The Smart-ACT™ platform is a repurposed and new drug discovery platform launched by the Smart Pharma Group which intends to revolutionize drug discovery, repurposing and repositioning. In the forthcoming developments, Smart Pharma Group would include the incorporation of blockchain technology into the drug development and discovery processes, initially through the adoption of the SMPT token as the first step. We believe that blockchain technology will significantly increase data transparency and bring distributed power from participants worldwide to co-develop and evolve our next Smart-ACT™ platform technology.
Smart Pharma Group recognizes that blockchain-based technology will continue to play an important role in pharmaceutical development and also has the capability to foster community-based ecosystems of passionate and like-minded people in revolutionizing the drug discovery industry who would like to be an integral part of the process around projects.
For further information, please join the discussions on our social media platforms which can be accessed as follows.
About Smart Pharma Group
Smart Pharma Group includes Smart Pharmaceutical Limited Partnership, a limited partnership registered in Seychelles, and its general partner, SMTPH Limited, an international business company incorporated under the laws of Seychelles. SMTPH Limited and its subsidiaries are indirectly wholly owned by Aptorum Group Limited.
The SMPT tokens are currently not offered for sale to citizens, nationals, residents (tax or otherwise), green card holders and/or companies domiciled in the following: (a) the United States of America; (b) Singapore; (c) Hong Kong (except for Professional Investors); (d) the People’s Republic of China; (e) Samoa, (f) Seychelles, (g) sanctioned countries under the OFAC and (h) any other jurisdiction which prohibits the possession, dissemination or communication of the Whitepaper.
Statements, estimates and financial information contained hereunder, on our website http://www.SMTPH.com, made in any announcements or in any place accessible by the public and oral statements that may be made by the Smart Pharma Group may constitute forward-looking statements. Smart Pharma Group disclaims any responsibility to update any of these forward-looking statements or publicly announce any revisions to these forward-looking statements to reflect future developments, events or circumstances, even if new information becomes available or other events occur in the future.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.