In a positive step for decentralized science (DeSci) and the future of longevity and cancer research, VitaDAO announced the launch of its first biotech company, Matrix Biosciences. This breakthrough comes after a community-wide vote that approved a collaboration with Dr. Vera Gorbunova, co-chair of the University of Rochester Aging Research Center, approved.
The community supports the new venture
The initial funding tranche of $300,000 from VitaDAO will be followed by additional funding through intellectual property tokenization in early 2024. With this vital support, Matrix Biosciences plans to initiate preclinical studies of novel hyaluronic acid-based compounds, which show promise in the treatment of diseases. aging-related conditions and cancer.
“The funding and support from the VitaDAO community will bring Matrix Biosciences one step closer to delivering breakthrough treatments that will significantly improve outcomes for our vulnerable aging patient population,” said Dr. Gorbunova.
VitaDAO: a hub for decentralized science
Furthermore, VitaDAO brings together the cutting edge of decentralized science and web3 technologies. One of the notable members is Balaji Srinivasan, former CTO of Coinbase. To date, VitaDAO has successfully funded 19 projects and deployed over $4 million in capital. Interested individuals can join the community by purchasing VITA tokens or contributing work and intellectual property.
Dr. Anthony Schwartz of VitaDAO added: “Thanks to the collective drug development experience of VitaDAO’s online community and the collaborative nature and expertise of Dr. Gorbunova and the team at Matrix Biosciences, we now have a well-designed development strategy in an area that traditionally lacked the know-how or a set path.”
What is Decentralized Science (DeSci)?
Decentralized Science, or DeSci, makes science more open, transparent and accessible. Using Web3 and unique digital assets called Non-Fungible Tokens (NFTs), DeSci can represent everything from basic data to entire experiments. This new approach has the potential to revolutionize the way scientific research is conducted.
Instead of relying on large, centralized organizations, DeSci uses blockchain technology to make research more democratic. This allows people around the world to collaborate, quickly share information and ensure data is accurate. Although this idea is still new, it could change the way we make scientific discoveries in the future.