The $300,000 funding of a biotechnology business was revealed by VitaDAO, which supports longevity research. This is the DAO’s first investment of its kind.
Vera Gorbunova, an anti-aging researcher at the University of Rochester, has founded the biotechnology business Matrix Biosciences, which VitaDAO is unveiling today. Initial funding for the launch is $300,000; further cash will be provided in early 2024.
The business will build on Gorbunova’s studies on the cancer resistance and lengthy lifespans of naked mole rats and investigate if a substance found in the rats may lengthen human lifespan.
VitaDAO, which was established in 2021, supports “longevity” research aiming at prolonging human life. The DAO is presently funding 20 initiatives, several of which are geared toward making “moonshot” advancements in the field of longevity research. Because members do not receive a profit from the research and all income is remitted to the DAO treasury to finance future initiatives, Todd White, a VitaDAO key contributor, compared the DAO to an endowment fund.
Earlier this year, the DAO secured a $4 million fundraising round that was highlighted by a contribution from Pfizer Ventures.
According to White, VitaDAO invests in “valley of death” stage concepts where research is still in the experimental stage. Pfizer originally heavily invested in an early-stage investment team, but decided against doing so before investing in VitaDAO.
“They recognized we were accomplishing what they were attempting, but we were doing it more effectively and affordably. Thus, for Pfizer, this was a type of actual Web3 awakening, according to White.
VitaDAO has positioned itself as a community of researchers within the “decentralized science” movement and a rising interest in DAOs as instruments for supporting research.
As blockchain technology struggles to repair its reputation in the aftermath of the FTX disaster, White said that the DAO has had difficulty integrating itself into the educational environment. White, though, believes that crypto and the specialized subject of longevity study have a similar mindset.
Both sides agree that “we’re not going to do this conventional thing.” This is foolish. There are several obstacles present,” White remarked. “We’re testing all the initial hypotheses again.”
