In a positive move 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’s Aging Research Center.
The Community Backs the New Venture
The initial funding tranche of $300,000 from VitaDAO will be followed by additional funding through the tokenization of intellectual property in early 2024. With the help of this essential support, Matrix Biosciences aims to commence preclinical studies for novel hyaluronic acid-based compounds, which hold promise in treating aging-related disorders and cancer.
“The funding and support from the VitaDAO community will bring Matrix Biosciences one step closer to delivering groundbreaking treatments that will significantly improve outcomes for our vulnerable aging patient population,” stated Dr. Gorbunova.
VitaDAO: A Hub for Decentralized Science
Moreover, VitaDAO brings together the forefront of decentralized science and web3 technologies. Among its 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 either purchasing VITA tokens or contributing work and intellectual property.
Dr. Anthony Schwartz of VitaDAO added, “Thanks to the collective drug development experience from VitaDAO’s online community and the collaborative nature and expertise of Dr. Gorbunova and the Matrix Biosciences team, we now have a well-designed development strategy in an area that has traditionally lacked the know-how or an established path.”
What is Decentralized Science (DeSci)?
Decentralized Science, or DeSci, makes science more open, transparent, and accessible. By using Web3 and unique digital assets called Non-Fungible Tokens (NFTs), DeSci can represent anything from basic data to whole experiments. This new approach has the potential to revolutionize how scientific research is conducted.
Instead of relying on big, centralized organizations, DeSci uses blockchain technology to make research more democratic. This allows people worldwide to work together, share information quickly, and ensure data is accurate. Although this idea is still new, it could change how we make scientific discoveries in the future.