VitaDAO Launches Biotech Firm Matrix Biosciences
VitaDAO, a decentralized autonomous organization focused on supporting early-stage longevity research, has announced the launch of its first biotech company, Matrix Biosciences. This development comes after receiving overwhelming approval through a community vote earlier this year for a collaboration with Dr. Vera Gorbunova, the co-chair of the Aging Research Center at the University of Rochester.
Initial Funding and IP-NFT Fractionalization
Matrix Bio will receive an initial funding tranche of $300,000 from VitaDAO. In addition, the firm will have access to further funding through IP-NFT fractionalization in early 2024. IP-NFTs are non-fungible tokens that represent intellectual property, and VitaDAO’s associated platform Molecule facilitates the listing of NFT projects on its marketplace. The specific funding amount from IP-NFTs will be determined based on Matrix Bio’s requirements.
The Rise of Decentralized Science
VitaDAO is part of the decentralized science (DeSci) movement, which aims to revolutionize research investment by relying on crowdfunding and decentralized ownership instead of centralized bodies. This approach allows for greater community involvement and collaboration in scientific endeavors.
Funding for Preclinical Studies on Naked Mole Rats
The funds provided by VitaDAO will be used for preclinical studies focused on testing hyaluronic acid-based compounds found in naked mole rats, known for their longevity and resistance to cancer. The goal is to identify a promising drug candidate for the treatment of cancer and aging-related diseases.
Partnership with Pfizer and Previous Achievements
VitaDAO received backing from Pfizer’s venture arm in a $4.1 million funding round earlier this year. This marked Pfizer’s first involvement with a decentralized autonomous organization. VitaDAO has already funded 19 projects, including Turn Biotechnologies and a University of Copenhagen study on medicinal drugs’ impact on aging.
Hot Take: VitaDAO Expands Its Reach in Longevity Research
VitaDAO’s launch of Matrix Biosciences demonstrates the organization’s commitment to advancing early-stage longevity research through decentralized funding models. By leveraging IP-NFT fractionalization and community participation, VitaDAO aims to accelerate the development of groundbreaking treatments for aging-related diseases. The partnership with Dr. Vera Gorbunova and the support from Pfizer’s venture arm further strengthen VitaDAO’s position in the field of longevity research. With its track record of successful projects and growing community, VitaDAO is well-positioned to drive innovation in the realm of decentralized science.
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