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Pfizer is Funding Biotech on the Blockchain With VitaDAO

October 9, 2023
x min read

There’s a new biotech startup focused on cancer research. And the way they got funded might just be the future of scientific ventures.

What’s happening:

  • VitaDAO is a decentralized autonomous organisation aiming to fund breakthrough scientific ventures in biotech and longevity
  • The venture arm of pharmaceutical giant Pfizer previously invested in VitaDAO’s seed round
  • VitaDAO is now backing a new venture called Matrix Bio which aims to make scientific breakthroughs in cancer research

Why it matters:

  • Decentralized science, sometimes referred to as DeSci, is an emerging area of biotech in which capital is crowdfunded and ownership is distributed in a decentralized manner
  • VitaDAO is the first ever DAO to receive an investment from a publicly traded biotech or pharmaceutical company such as Pfizer
  • This could be foreshadowing into the future of what funding new scientific ventures looks like

How it works:

  • VitaDAO is governed by token holders who take a vote as a community on different proposals for new startup concepts
  • Future funding for those startups comes from what they call ‘IP-NFTs’ which is fractionalized ownership powered by VitaDAO's associated platform known as Molecule

Going deeper:

  • Other notable investors in VitaDAO include Shine Capital, L1 Digital and Balaji Srinivasan

The intrigue:

  • Matrix Bio will be studying why naked mole rates live on average ten times as long as ordinary rats and why they seem to be immune to cancer
  • The core focus of the study is around the anti cancer and pro longevity effects of high molecular weight hyaluronic acid

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