From Concept to Reality: Celebrating the First Cohort of Pioneering bioDAOs
Announcing the graduation of our first BioDAO cohort, illustrating progress in the convergence of web3, biotechnology, and a new method for supporting research endeavors.
Two years ago, our team played a big role in the formation of the first BioDAO: VitaDAO. Many of the Core Leads behind the DAOs we’re celebrating today started their journey in VitaDAO and were inspired to launch into other therapeutic areas they’re passionate about.
Today, we’re proud to celebrate the graduation of bio.xyz’s first cohort of biotech DAOs, marking a significant milestone in the convergence of web3, biotech, and a novel approach of funding research. Register here for demo day, 27 April 17h30 CET.
Our first cohort consists of some of the best BioDAOs we’ve come across. Each is composed of dedicated teams and vibrant scientific communities committed to driving meaningful progress in their respective therapeutic areas. And each holds immense potential for the scientific funding space. Congratulations to our inaugural five BioDAOs: AthenaDAO, CryoDAO, HairDAO, PsyDAO, and ValleyDAO.
Let's take a closer look at each of them and what they've been up to during the accelerator program:
AthenaDAO
Despite being relevant to half of the global population, women’s health remains woefully underfunded. Reproductive health dictates the realities of billions, and the genesis of future generations, yet it still faces slow progress due to insufficient funding. From a business perspective, women make up to 80% of the health decisions at home and hold incredible purchasing power, meaning they are a massive, largely untapped economic opportunity. Using the IP-NFT framework, AthenaDAO will be able to create a sustainable circular system of funding research.
AthenaDAO's Funding Focus:
Translational R&D in menopause, Polycystic Ovarian Syndrome (PCOS), uterine fibroids, endometriosis and reproductive health.
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Received 50+ submissions from institutions such as Cambridge and Harvard after their first call for projects
They have two IP-NFT ready to mint with exclusive licensing rights on a translation research project on ovarian aging
They grew their active contributor team to 35
Their advice to other BioDAOs: Learn from the other DAOs in your cohort. Create a strong team who are willing to put time and effort into your shared vision.
“It makes a BIG difference to have the support of an established organization like Molecule/bio.xyz. Especially in areas of research that are overlooked.” - Laura Minquini, AthenaDAO Core Lead
CryoDAO
CryoDAO is set to rewrite the way we think about life and death. Cryopreservation requires sub-zero temperatures and cutting-edge technology, combined with cryoprotectants that prevent ice-crystal formation in cells. When achieved, organs and even whole humans will be able to be held in a state of stasis until they are needed, or until medical technologies have progressed to a point where disease and disorder are negligible concerns. While cryogenics sits on the precipice of life-changing discovery, it doesn’t receive significant funding from large organizations due to its high-risk nature. Simply because research is risky doesn’t mean it shouldn’t happen, and CryoDAO is the solution to that.
CryoDAO's Funding Focus:
High-impact cryogenic research focusing on cryoprotectants administered before cryopreservation, as well as the process of recovery to ensure the warming of the tissue doesn’t cause damage.
Achievements During the Program:
Although CryoDAO joined the program less than two month ago ago, they’ve:
Significantly raised awareness for what is considered a fringe science
Lined up their first projects with Dr Ramón Risco and Ashewin de Wolf
Improved their dealflow, with researchers now reaching out to them
Their advice to other BioDAOs: Assemble a very strong core team from the start.
“Molecule is laying the groundwork for decentralized science with bio.xyz — couldn't imagine building a BioDAO without their framework.” - Kai Mills, CryoDAO Core Lead
HairDAO
Hair loss is often relegated to a cosmetic issue, and that creates hurdles in funding research via traditional methods, despite the pervasive negative impact hair loss has on so many people’s lives. Currently, there are only three treatments on the market, which are outdated and can have damaging side effects. With so little funding available, there are many viable and incredibly lucrative opportunities simply not being acted upon. Using the IP-NFT framework, HairDAO is primed to capitalize on this field of research. Since their inception, they have fostered a dedicated community that bolsters their progress.
HairDAO's Funding Focus:
Testing delivery vehicles for existing treatments to increase efficacy and limit side effects. HairDAO will soon be launching a micro-grant program to encourage more traditional researchers to design different delivery vehicles.
Achievements During the Program:
Minted their first IP-NFT, funding Professor Ralf Paus’s work. Initial results are expected by June 2023.
Launched a Patient Portal to run decentralized observational studies, find new gene targets, and recommend treatments to their community.
Successfully launched the HAIR token via a Gnosis public auction.
Their advice to other BioDAOs: Join a high-functioning Discord to watch how they do things before you start the process yourself. Figure out what you’d like to improve about their process, and apply that to your own work.
“The bio.xyz team has been incredibly supportive of our mission to solve hair loss. The team understands how to build in a crypto-friendly way, which is a huge advantage for projects that join the program.” - Andrew Verbinnen, HairDAO Core Lead
PsyDAO
For centuries, psychedelic plant medicines have been utilized by communities to achieve radical shifts in psychology and perception. PsyDAO feels that psychedelics, if utilized correctly, could be an amazing resource for deepening human consciousness and improving mental health. With an incredibly patient- and community-centric approach, they understand that every individual has a unique experience and viewpoint to offer to the issue. They’ve also sighted centralization of these treatments as a huge risk, hence the choice to bring their organization through the DAO system.
PsyDAO's Funding Focus:
Creating treatments to address mental health disorders such as anxiety, depression and eating disorders.
Achievements During the Program:
Launched their Alchemist Grant to support creations in the psychedelic space for researchers, artists and creators. Three grantees have received funding so far.
Attended ETHDenver and distributed “Proof of Trip” packages containing one psilocybe mushroom and a QR code for consequent scientific survey.
In talks with some of the biggest names in psychedelics with the intent to work together.
Their advice to other BioDAOs: We recommend this accelerator to any biotech start up. It offers not only the opportunity to learn from bio.xyz, but also to collaborate and network with other BioDAOs and professionals in the industry.
“The program provided top-notch mentors (James Sinka was outstanding), resources and showed a genuine commitment in all the DAO’s success.” - Juan23, PsyDAO Community Steward
ValleyDAO
Driven by the need to protect our planet for future generations, ValleyDAO joined bio.xyz. Synthetic biology is the science of manipulating biological organisms such as bacteria to sustainably manufacture products. ValleyDAO can tap into multiple industries: agriculture, fuel, chemicals, clothing, medicine and more. Currently, many synbio resources face challenges due to insufficient funding for moonshot research and a lack of translational support for academics. This often results in valuable synbio data and results going unutilized, rather than being translated into real-world applications with significant impact. ValleyDAO addresses these issues by providing funding for moonshot research and supporting academics in translating their work through a decentralized community approach. By advocating for shared resources and data, ValleyDAO aims to rapidly advance these technologies and enable their broader applications for the common good.
ValleyDAO's Funding Focus:
ValleyDAO is seeking ambitious projects that aim to address global issues in climate and sustainability. Any projects that provide new, sustainable mechanisms of manufacturing food, goods and materials at scale are of interest to the DAO. Additionally, developing tools and techniques that make it easier to engineer biology are of interest.
Achievements During the Program:
Secured a partnership with True Ventures, which will lead to the funding of their first project with Dr Ledesma-Amaro.
They spun out two academic startups from Denmark's Technical University and University Paris-Saclay.
They are 2 days away from launching their GROW token via a Gnosis auction (auction already open, get whitelisted here.)
Their Advice to other BioDAOs: Build intentionally—think about where you want to be in 5, 10, 20 years.
“Despite being distributed around the world, the bio.xyz team is very friendly and have been extremely helpful in getting the DAO off the ground. With most of our team coming from an academic background, we can safely say that we would not be so far along on our journey without bio.xyz!” - Albert Anis, ValleyDAO Core Lead
Graduating in Style: bio.xyz Demo Day
To mark this occasion and introduce these DAOs and their offerings to the rest of the world, we’re hosting the first ever bio.xyz demo day. This is an ideal opportunity for biotech and synthetic biology enthusiasts, researchers, academics, and industry professionals seeking collaboration opportunities to connect with these BioDAOs.
The event will be live streamed on April 27, 2023 at 17:30 to 19:30 CEST.
Don't miss this unique opportunity to connect with these pioneers in the BioDAO space and learn about the future of biotechnology through decentralized innovation.
Looking Ahead
We’ll continue to support our first cohort with the integration of the IP-NFT protocol, governance and operations assistance, community building, dealflow processes, and whatever is needed to make them successful.
BioDAOs can drive innovation and accelerate the discovery of effective interventions for a wide range of conditions, including ADHD & nootropics, sleep disorders, nutrition, obesity, and numerous other medical challenges. These organizations can also play a pivotal role in developing new infrastructure, technologies, and services that can reshape the landscape of biomedical research and healthcare.
As the concept of BioDAOs continues to gain traction, it's essential to support their organic growth and development, allowing them to emerge and evolve based on the needs and interests of their respective communities. By empowering these decentralized communities and fostering an environment of open collaboration and data sharing, BioDAOs can unlock new possibilities in scientific research and contribute to the advancement of human health and well-being on a global scale.
But we're also looking into the future. Now, more than ever, we are excited to continue supporting the next generation of biotech DAO builders, and helping them to push the boundaries of what's possible at the intersection of web3 and biotech. Applications for our second cohort are officially open and we encourage passionate builders in this space to join our mission in shaping the future of decentralized science.
Together, we will create a world where medicines are developed openly, democratically, and for the benefit of all.
For more information on the program, please visit the FAQ here. Applications for the second cohort are now open.
