VitaDAO Funds Biotech Company to Treat Cancer and Aging Diseases
VitaDAO, a decentralized autonomous organization (DAO) collective focused on early-stage longevity research, has provided funding for the launch of Matrix Biosciences, a biotech company dedicated to treating cancer and aging diseases.
Exploring the Potential of HMW-HA
The discussions surrounding the use of high molecular weight hyaluronic acid (HMW-HA) for its anti-cancer and pro-longevity effects began in November 2022 and gained majority consensus in March 2023. A proposal snapshot reveals that 35 members of VitaDAO cast their votes using VITA tokens, with 30 members supporting the cause, four abstaining, and one voting against it.
Investment and Future Funding
VitaDAO, as an active contributor in decentralized science (DeSci), made an initial investment of $300,000 in Matrix Biosciences. The organization plans to further fund the project through the tokenization of intellectual property (IP) in early 2024.
The Power of HWA-HA Compound
The HWA-HA compound used by Matrix Bio is derived from the tissues of naked mole rats, known for their strong cancer resistance and longer lifespan.
Funding Process
VitaDAO converted USD Coin (USDC) stablecoins from its community treasury into U.S. dollars and transferred the funds to Matrix Bio’s bank account.
Raising Additional Funding
Once the initial batch of experiments is completed, Matrix Bio will have the option to raise additional funding by issuing IP Tokens (IPTs). These tokens will provide governance rights in the ongoing development of the intellectual property. The next fundraising round is expected to take place in the first quarter of 2024.
Potential Therapeutic Candidate
VitaDAO believes that modulating HMW-HA could be a viable therapeutic candidate for treating complex diseases like cancer. While the outcomes of the research are still uncertain, the DAO sees a high likelihood of its translatability to clinical applications.
Commitment to Research Funding
VitaDAO’s commitment to funding cancer research will depend on the results obtained from the experiments. The organization has previously funded up to $1 million of research projects before seeking support from professional investors and pharma stakeholders.
Hot Take: VitaDAO Empowers Biotech Innovation for Cancer and Aging Diseases
VitaDAO’s investment in Matrix Biosciences demonstrates its dedication to advancing research in the fields of cancer treatment and longevity. By leveraging decentralized funding and intellectual property tokenization, VitaDAO aims to support innovative solutions with potential clinical applications. The use of HMW-HA derived from naked mole rats presents an intriguing avenue for exploring new therapies. As the research progresses, VitaDAO’s commitment to funding will depend on the outcomes achieved. However, this initiative showcases the power of decentralized organizations in driving scientific advancements and improving healthcare outcomes.
By
By
By
By
By