March 27, 2024
VitaDAO Expands into Biotech: Launches Matrix Biosciences for Cutting-Edge Longevity Research
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VitaDAO Expands into Biotech: Launches Matrix Biosciences for Cutting-Edge Longevity Research

By forming a biotech firm to pursue cutting-edge research in treating cancer and other age-related disorders, a decentralized autonomous organization (DAO) has taken its interest in life extension to a new level.

In collaboration with the eminent biologist Vera Gorbunova, VitaDAO, a community-owned collective to advance and fund early-stage longevity research, today announced the establishment of Matrix Biosciences. Gorbunova, a scientist at the University of Rochester, is credited with spotting characteristics of the naked mole rat that make it immune to cancer.

The goal of the new business, according to Todd White, a founding member of VitaDAO, is to “route research from within a DAO back into the real world,” as opposed to keeping it on-chain.

According to White, Matrix Biosciences will be centralized and run much like a conventional business as opposed to VitaDAO’s decentralized structure. In actuality, VitaDAO will retain the bulk of the stock, and the newly established biotech will be required to give them quarterly reports, much like traditional investment arrangements.

“We want to show that blockchain can co-exist effectively with the biotech industry,” he stated.

White said that both VitaDAO and the recently formed Matrix Biosciences are “proactively” engaging with authorities, acknowledging the rigorous regulatory environment of medicine and healthcare. He claimed that the crypto market has some reputational risk; therefore, they want to demonstrate that “we aren’t cowboys.”

Eleanor Davies, another founding member of VitaDAO, stated that the Matrix Biosciences objective is cutting-edge. She informed Decrypt that the business will study the long-lived naked mole-rat, which has large amounts of high molecular weight hyaluronic acid (HMW-HA). These kinds of rats have a substance that is anti-cancer, anti-pain, and pro-longevity.

According to Davies, Matrix Bioscience will try to make use of these traits to create treatments for cancer and other age-related disorders in people, a course of action that is in line with VitaDAO’s goals.

“Our funding mandate is to fund ‘moonshot bleeding-edge research’ that doesn’t usually qualify for [National Institutes of Health] or traditional venture capital,” she stated. For her, Matrix Biosciences will be working to create “the next blockbuster therapeutic.”

Gorbunova, who will be the chief scientist for Matrix Biosciences, received praise from both White and Davies for her years of work on the processes of longevity, genomic stability, and long-lived animals. She has received several honours for her work over the years and is presently the co-director of the University of Rochester’s Aging Research Center.

Pfizer Ventures is one of the investors in VitaDAO, which will provide Matrix Biosciences with a $300,000 start-up loan. Through its IP-NFT fractionalization mechanism, the venture will later get further funding.

Today’s launch is “a big signal to the biotech community that we are not fooling around,” White concluded.


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