Pfizer-backed DAO launches community-funded biotech firm

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By BitcoinWiki News

Key Takeaways:

– VitaDAO, a decentralized autonomous organization, has launched biotech firm Matrix Biosciences.
– Collaboration with Dr. Vera Gorbunova of the University of Rochester’s Aging Research Center was approved through a community vote.
– VitaDAO will provide an initial funding of $300,000 to Matrix Bio, followed by additional funding through IP-NFT fractionalization.
– IP-NFT fractionalization uses technology from the VitaDAO-associated platform Molecule, allowing researchers to list NFT projects on its marketplace.
– VitaDAO aims to advance early-stage longevity research through decentralized ownership and crowdfunding initiatives.
– The funds will be used for preclinical studies on hyaluronic acid-based compounds found in naked mole rats for cancer and aging-related disease treatments.
– Pfizer’s venture arm has backed VitaDAO in a funding round, marking the company’s first participation in a DAO.
– VitaDAO has over 10,000 members, funded 19 projects, and deployed $4 million in capital, including investments in Turn Biotechnologies and a University of Copenhagen study.
– Other decentralized science initiatives include ResearchHub, co-founded by Coinbase CEO Brian Armstrong, which raised $5 million in funding.


VitaDAO, a decentralized autonomous organization (DAO), has launched its first biotech firm called Matrix Biosciences. The launch comes after a community vote approving a collaboration with Dr. Vera Gorbunova, co-chair of the University of Rochester’s Aging Research Center. VitaDAO will provide an initial tranche of $300,000 to Matrix Bio, with additional funding planned through IP-NFT fractionalization in early 2024. IP-NFT fractionalization involves using technology from the VitaDAO-associated platform Molecule to list NFT projects representing intellectual property on its marketplace. VitaDAO aims to fund and advance early-stage longevity research.

VitaDAO is part of the decentralized science (DeSci) movement, which seeks to source research investment through crowdfunding initiatives and decentralized ownership, in contrast to the current centralized research and funding system.

The funding provided by VitaDAO will be used for preclinical studies on hyaluronic acid-based compounds found in naked mole rats, which are known for their longevity and resistance to cancer. The research aims to discover a drug candidate for the treatment of cancer and aging-related diseases.

Dr. Gorbunova expressed excitement about the partnership with VitaDAO and the potential to deliver groundbreaking treatments for the aging population. Dr. Anthony Schwartz, VitaDAO’s company builder, highlighted the collaboration’s potential to advance into clinical trials and the value of VitaDAO’s online community in drug development.

In January, the venture arm of Pfizer participated in a funding round for VitaDAO, which raised $4.1 million. This marked Pfizer’s first involvement with a DAO, as they hold vita governance tokens through a special purpose vehicle and participate in VitaDAO governance proposals. VitaDAO currently has over 10,000 members and has successfully funded 19 projects, deploying $4 million in capital. Some of its previous projects include investing in Turn Biotechnologies, a Stanford University spinout that produces mRNA medicines, and a study on medicinal drugs’ impact on the aging process conducted by the University of Copenhagen.

VitaDAO is not the only project in the DeSci space, as ResearchHub, a startup co-founded by Coinbase CEO Brian Armstrong, recently raised $5 million in funding. ResearchHub rewards scientists in cryptocurrency for publishing content.

In summary, VitaDAO has launched its first biotech firm, Matrix Biosciences, after receiving approval from its community to collaborate with Dr. Vera Gorbunova. VitaDAO will provide funding to Matrix Bio through IP-NFT fractionalization, and the funds will be used for preclinical studies on hyaluronic acid-based compounds found in naked mole rats. VitaDAO is part of the DeSci movement and has received investment from Pfizer and other entities. The organization has successfully funded several projects and has a large online community.

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