• VitaDAO, a DeSci startup focused on longevity therapeutics, has raised $4.1 million in a token-based funding round led by Pfizer Ventures.
• The funding will be used to further develop the platform, which focuses on funding early-stage longevity research and commercializing longevity therapeutics.
• The round also included participation from Balaji Srinivasan, L1 Digital, and others.
VitaDAO, a decentralized longevity therapeutics startup, has recently closed a token-based funding round of $4.1 million, led by Pfizer Ventures. The round also included participation from Balaji Srinivasan, Shin Capital, L1 Digital, and other investors. The funding will be used to further develop the platform, which focuses on funding early-stage longevity research and commercializing longevity therapeutics.
VitaDAO is part of a larger project called Molecule, which is aimed at accelerating innovation in the pharmaceuticals sector with innovative technologies such as blockchain and NFTs. Molecule raised $12.7 million in its seed funding round last June, and has since been exploring new ways to revolutionize the pharmaceuticals industry.
VitaDAO is focused on creating a decentralized longevity therapeutics-focused crowdfunding and research system. This system is designed to address the “valley of death” challenge – the challenge of translating academic science into the biotech space. The platform allows users to invest in early-stage longevity research projects, and provides them with access to commercialized longevity therapeutics.
Pfizer Ventures has made it clear that it currently holds VitaDAO’s governance token and has recently participated in the project’s governance proposal. Michael Baran, PfizerVenture’s Executive Director and Partner, has said that “DeSci caught our attention as an emerging area to address the valley of death challenge.”
VitaDAO is planning to use the new funds to continue to develop its DeSci platform and provide users with more access to innovative longevity therapeutics. The platform is also hoping to expand its user base and increase access to early-stage research projects. By providing users with a platform to fund and access early-stage research, VitaDAO is helping to revolutionize the pharmaceuticals industry.