VitaDAO, a community-owned project backed by Pfizer Ventures and Shine Capital among over 10,000 members, has recently announced the launch of its first biotech company called Matrix Biosciences. This company is the result of a community vote that approved a collaboration with Vera Gurbunova, a Ph.D. holder and co-chair of the University of Rochester’s Aging Research Center. The launch of Matrix Biosciences is a crucial step for VitaDAO as it aims to drive early-stage longevity research through web3 funding.
To initiate the early activities of Matrix Biosciences, VitaDAO has provided an initial funding of about $300,000. This funding will enable the company to conduct preclinical studies on hyaluronic acid-based compounds. The goal of these studies is to test the compounds’ ability to relieve the effects of cancer in humans. The inspiration for this research comes from a class of rodents that are resistant to cancer cells.
Dr. Gurbunova, co-chair of the University of Rochester’s Aging Research Center, expressed her enthusiasm about the partnership with VitaDAO. She believes that the funding and support from the VitaDAO community will bring Matrix Biosciences a step closer to delivering groundbreaking treatments that will significantly improve outcomes for aging patients suffering from cancer and aging-related disorders.
The VITA token is the backbone of the VitaDAO ecosystem, serving as a governance tool and rewarding investors who have supported the project from its early development stage. With the announcement of Matrix Biosciences, the liquidity and trading volume of the VITA token have continued to improve. As of now, the VITA token is trading around $1.69, with a daily average trading volume of approximately $398,000.
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Supported by the research and resources from Pfizer, VitaDAO has successfully funded 19 projects with a cumulative capital of over $4 million. Anthony Schwartz from VitaDAO believes that the launch of Matrix Biosciences is a strategic move to navigate through the complex drug discovery process. Traditional companies often face delays due to a lack of an established path. With the collective drug development experience of VitaDAO’s online community and the expertise of the Matrix Biosciences team, a well-designed development strategy has been created. The early data generated by Matrix Biosciences is promising, and there is potential for advancing into clinical trials.
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In conclusion, VitaDAO’s launch of Matrix Biosciences marks an important milestone in its mission to drive early-stage longevity research through web3 funding. With the support of Pfizer Ventures and Shine Capital, VitaDAO has successfully funded numerous projects and continues to strengthen the liquidity and trading volume of its VITA token. The collaboration with Matrix Biosciences and Dr. Gurbunova brings new hope for groundbreaking treatments that can significantly improve the lives of aging patients suffering from cancer and related disorders. As VitaDAO continues to grow and support innovative biotech companies, the future looks promising for the community-owned project.
