VitaDAO made an initial investment of $300,000 and plans to increase funds through tokenizing intellectual property in early 2024.
VitaDAO, a decentralized autonomous organization collective dedicated to early-stage longevity research, funded the launch of a biotech company, Matrix Biosciences, which is dedicated to treating cancer and aging diseases.
Out of the lot, 30 members supported the cause, four members abstained from voting, and one voted against the proposal. As an active contributor in decentralized science , VitaDAO made an initial investment of $300,000 and plans to carry out further funding through tokenization of intellectual property in early 2024.
Speaking to Cointelegraph, a VitaDAO spokesperson revealed that the funds have been provided to Matrix Bio by converting USD Coin in return for sharing governance rights in the ongoing development of the IP. The next fundraising round will commence after the budget for the next development phase is established — expected to be in the first quarter of 2024.
“Like most early-stage research, it is too early to know what the outcome of the research will provide. VitaDAO believes there is a high likelihood that the research will be translatable to the clinic.”
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