BioDAO

“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”

R. Buckminster Fuller

The last decade has seen unprecedented developments in biotechnologies and digital currencies. COVID-19 has not only highlighted the immense power of biotechnology and its vast potential, but also fast tracked the next generation of therapies such as mRNA vaccines. At the same time, advancements in digital currencies brought the benefits of decentralization to several industries such as digital art and music. However, the legacy approach to biotech development and funding remains suboptimal and still suffers from misaligned incentives, restricted access, and centralization of resources which can be readily addressed by Web3 innovation.

The process of drug discovery and innovation in the pharmaceutical industry is undergoing a profound shift with publicly funded academic institutions increasingly driving key research discoveries while legacy biotech investors earn the benefits by privatizing these innovations. At the same time, traditional biotech development and funding approaches leave critical gaps in early-stage funding and pre-clinical translation of bench sciences into full-fledged biotechs. Legacy biotech funding has been biased towards clinic-ready projects or projects from celebrity labs and repeat founders. Naturally, this means that their investment focus is narrow and most capital flows to pre-selected research institutions where venture capitalists have long established relationships and where most biotech operators reside.

BioDAO is a new global decentralized community which supports and funds promising early stage biotechnology projects and decentralized drug development. Our mission is to create a global democratic biotech ecosystem focused on identifying, funding, and supporting real-world biotech projects to accelerate biotech innovation and solve humanity's most pressing challenges.

BioDAO will serve as the gateway to receive funding and early stage biotech development expertise supported by DAO members.

The BIO token is a valueless governance token which will allow members to participate in governance and can be earned through various contributions (e.g., deal flow, due diligence, DAO ops). The BIO token addresses the long-standing problem of equitable participation in biotech development.

The BioDAO community aims to become a platform for democratized access to talent and a permanent funding source for the biotech ecosystem. With a self-reinforcing circular economy, we dare to dream of building the first Web 3.0 biotech/pharma company that is controlled by the DAO.