A decentralised autonomous organization (DAO) known as VitaDAO has embarked on a pioneering journey into biotechnology by founding Matrix Biosciences.
The aim is to delve into scientific research targeting cancer and age-related diseases.
VitaDAO, a community-driven collective dedicated to supporting early-stage longevity research, has partnered with esteemed biologist Vera Gorbunova, renowned for her discovery of cancer-resistant traits in the naked mole-rat.
Matrix Biosciences, a novel biotech company, is set to operate in contrast to VitaDAO's decentralised nature.
Instead, it will function as a centralised entity akin to a traditional corporation.
Crypto-BioTech
VitaDAO will hold the majority of shares, and Matrix Biosciences will be obligated to provide quarterly reports—a structure reminiscent of conventional investment frameworks.
The primary objective is to demonstrate the harmonious coexistence of blockchain technology with the biotech industry.
“We want to show that blockchain can co-exist effectively with the biotech industry,” Todd White, a core member of VitaDAO said.
Given the strict regulatory landscape of healthcare and medicine, VitaDAO and Matrix Biosciences are proactively collaborating with regulators.
They are keen to dispel the notion of recklessness often associated with the crypto industry and establish a reputation for responsible innovation.
Matrix Biosciences will embark on groundbreaking research centered on the naked mole-rat, a long-lived rodent known for its abundance of high molecular weight hyaluronic acid (HMW-HA).
This compound possesses anti-cancer, anti-pain, and pro-longevity properties.
The company aims to harness these characteristics to develop applications for cancer treatment and combat other age-related diseases in humans — a mission closely aligned with VitaDAO's objectives.
To kickstart Matrix Biosciences, VitaDAO will provide an initial funding injection of $300,000, with further capital allocation planned through its IP-NFT fractionalisation model.