A decentralized autonomous organization (DAO) takes his interest in life extension to the next level by founding a biotech company pursuing groundbreaking science in the treatment of cancer and other age-related diseases.
VitaDAO, a community collective with a mission to fund and advance early-stage longevity research, today announced the launch of Matrix Biosciences, in collaboration with world-renowned biologist Vera Gorbunova. Gorbunova, a professor at the University of Rochester, is credited with identifying it cancer-resistant properties in the naked mole rat.
Todd White, a core member of VitaDAO, shared Declutter that the idea behind the new company is to “send research from a DAO back to the real world”, instead of keeping it in the chain.
In contrast to the decentralized nature of VitaDAO, White explains, Matrix Biosciences will be centralized and operate like a traditional company. In fact, the majority shareholder will be VitaDAO, and the newly created biotech will be required to provide them with quarterly reports – similar to conventional investment structures.
“We want to show that blockchain can effectively coexist with the biotech industry,” he said.
Acknowledging the strict legal environment of medicine and healthcare, White explained that both VitaDAO and the newly formed Matrix Biosciences are “proactively” working with regulators. He said there are quite a few reputational risks associated with the crypto industry, so they want to prove that “we are not cowboys.”
Matrix Biosciences’ mission is groundbreaking, added Eleanor Davies, also one core member from VitaDAO. She said Declutter that the company will conduct research into the naked mole rat, a long-lived rodent rich in high molecular weight hyaluronic acid (HMW-HA). The compound inherent in these types of rats is anti-cancer, anti-pain, and extends lifespan.
Matrix Bioscience will seek to leverage its characteristics to develop applications for treating cancer and other age-related diseases in humans, Davies said, a strategy that fits in with VitaDAO’s mission.
“Our funding mandate is to fund groundbreaking research that would not normally be eligible for funding [National Institutes of Health] or traditional venture capital,” she said. For her, Matrix Biosciences will work to create “the next blockbuster therapy.”
Both White and Davies praised the work of Gorbunova, who will serve as chief scientist of Matrix Biosciences, and her work over the years on the mechanisms of longevity, genome stability, and long-lived mammals. She is currently co-director of the University of Rochester’s Aging Research Center and has won a plethora of awards for her research over the years.
VitaDAO – which counts Pfizer Ventures among its contributors – will initially fund Matrix Biosciences with $300,000. Later, the company will be allocated additional capital through the IP-NFT fractionalization model.
Today’s launch is “a big signal to the biotech community that we’re not fooling around,” White concluded.