- VitaDAO has raised $4.1 million from Pfizer Ventures among other investors.
- The latest fund raiser will fund longevity research projects and the development of its first biotech startup.
VitaDAO has raised $4.1 million from Pfizer Ventures among other investors. The decentralized autonomous organization (DAO) focuses on raising funds for human life extension research.
Pharmaceutical giant Pfizer Ventures, venture fund Shine Capital, investment group L1 Digital, decentralized science organizations BeakerDAO and Spaceship DAO are the major investors in the latest funding round for VitaDAO.
Tyler Golato of the decentralized biotech protocol Molecule founded VitaDAO in 2021 to fund longevity research. Moreover, the organization mentions that it has a community of over 9,000 enthusiasts, researchers, and contributors. It spent over $3.5 million on projects in 2022, researching ageing diseases, repairing age-related body damage, and cellular biology.
A native VITA governs the VitaDAO organization token. Additionally, holders can vote on which projects to support, with a group of stewards, helping execute these proposals. The group intends to expand beyond physical locations and is considering “a potential future sovereignty network.”
Pfizer, according to VitaDAO, is the first pharmaceutical company to vote on DAO proposals and participate in VitaDAO project incubation and commercialization.
Latest fund to be used for Longevity Research Projects
The latest fund raiser will fund longevity research projects and the development of VitaDAO’s first biotech startup. It will be announced in the first quarter of 2023. Furthermore, the company intends to invest more in the commercialization and licensing of its non-fungible token (NFT) intellectual property (IP) through its partnership with Molecule.
Several VitaDAO-funded projects have advanced to the next stage of development. This would include clinical trials with Mantis Photonics to diagnose Alzheimer’s disease using retinal imaging.
Moreover, crypto enthusiasts have long been interested in longevity science and the prevention of human ageing. In December 2021, Coinbase CEO Brian Armstrong founded NewLimit, a company to cure ageing. Moreover, former Ripple CTO and current Stellar co-founder Jed McCaleb founded the Astera Institute to fund longevity research.
