FAQ

How can get I involved?
- Stay in touch on twitter @BioDAOxyz, join the Discord, and check out our website! We have lots of interesting discussions happening around DAO structure and governance, biotech project funding, and more.
Why create the biotech ecosystem on the blockchain?
- Creating the biotech ecosystem on chain has several benefits:
  1. ‍Fosters an environment for creative collaboration and innovation with a large number of participants from diverse backgrounds on the global scale.
  2. Creates an ecosystem with aligned incentives BioDAO where members can contribute, participate in decision making, and benefit from contributions of others enabled by token ownership.
  3. Enables democratization of biotech development and funding on the global scale. Anyone in the world can participate in BioDAO, irrespective of their nationality or socio-economic status.
What are the benefits of distributing the BIO tokens among different groups of stakeholders (scientists, biotech executives, biotech activists, etc.)?
- Token ownership aligns incentives among different groups of stakeholders enabling creation of a vibrant global biotech ecosystem focused on creating long-term social value.
What are the typical success milestones for a biotech project?
- The typical milestones for a biotech / drug development project are:
  1. Discovery. The goal of this phase is to identify therapies which could provide therapeutic relief for certain diseases. This phase is typically done in close coordination with academic institutions and is funded through government and non-profit grants.
  2. Preclinical Trials (Phase 0). The goal of this stage is to test the efficacy, dosage, and safety conditions of the therapy on animals (typically rodents), which will hopefully translate to humans. A few potential drug candidates (variants of a similar drug) are evaluated and the most safe and efficient candidates are chosen. Private funding typically comes in at this stage of development.
  3. Clinical Trials (I, II, III). The clinical phase is defined by human trials, as opposed to testing the drug in animals or in vitro. It has three phases: I, II, and III, and concludes with the filing of a New Drug Application (NDA) with the appropriate regulatory authorities (like the FDA in the United States or the TGA in Australia).
  4. Commercialisation. At this stage, drugs are taken over by pharmaceutical companies to take the technology to market (sell it to doctors, negotiate with insurance companies for patients to get access to the drug).
  5. Phase IV trials. This stage involves the safety surveillance (pharmacovigilance) and ongoing technical support of a drug after it receives permission to be sold.
How will BioDAO connect on-chain governance and off-chain projects?
- BioDAO will provide deal flow, diligence, and funding recommendations to DeBio Fund, set up as a traditional VC fund. BioDAO is not a venture capital fund and will not fund biotech projects or hold equity in the projects.
- BioDAO will replenish its treasury from performance fees paid by DeBio Fund based on successful milestones (e.g., exit events).
How will BioDAO source biotech projects?
- BioDAO will source projects in the following ways:
  1. Community sourced deals (bounty incentivized)
  2. Co-funding with VCs
  3. Partnerships with Universities and Tech Transfer Offices (TTOs)
  4. Drug repurposing and funding spin-off assets from pharmaceutical companies
What scientific areas will BioDAO focus on?
- Initially, BioDAO will focus on oncology, immuno-oncology, cell and gene therapy, and techbio (e.g., AI/ML in drug discovery). These areas have higher multiples during liquidity events and generally have a faster time to IND (permission to start human clinical trials) at lower costs. In addition, these areas are more likely to attract financing at later stages of development as they match primary focus areas of the pharmaceutical industry.
- In the future, BioDAO may expand its focus to diagnostics (e.g., early disease detection) and broader biotech applications (e.g., lab grown meats). This will be discussed and decided by the DAO members.
How will BioDAO minimize risks of early stage biotech projects?
- BioDAO will minimize risks by focusing across a broad spectrum of projects ranging from cell and gene therapy to AI in drug discovery and providing expertise and operational support to projects. At later stages, BioDAO may bring preclinical development in-house, thus, reducing its costs.
How will BioDAO diligence biotech projects?
- BioDAO will develop in-house expertise by having members with expertise in certain biological pathways and modalities. BioDAO will involve outside experts as needed for specific project needs.
How much does it cost to fund one biotech project?
- Cost to fund a biotech project depends on the phase of development. Earliest stage of development (initial proof-of-concept studies) can range anywhere from $100,000 to $2 million.

PreviousRoadmap

Last updated 2 years ago

FAQ

How can get I involved?
- Stay in touch on twitter @BioDAOxyz, join the Discord, and check out our website! We have lots of interesting discussions happening around DAO structure and governance, biotech project funding, and more.
Why create the biotech ecosystem on the blockchain?
- Creating the biotech ecosystem on chain has several benefits:
  1. ‍Fosters an environment for creative collaboration and innovation with a large number of participants from diverse backgrounds on the global scale.
  2. Creates an ecosystem with aligned incentives BioDAO where members can contribute, participate in decision making, and benefit from contributions of others enabled by token ownership.
  3. Enables democratization of biotech development and funding on the global scale. Anyone in the world can participate in BioDAO, irrespective of their nationality or socio-economic status.
What are the benefits of distributing the BIO tokens among different groups of stakeholders (scientists, biotech executives, biotech activists, etc.)?
- Token ownership aligns incentives among different groups of stakeholders enabling creation of a vibrant global biotech ecosystem focused on creating long-term social value.
What are the typical success milestones for a biotech project?
- The typical milestones for a biotech / drug development project are:
  1. Discovery. The goal of this phase is to identify therapies which could provide therapeutic relief for certain diseases. This phase is typically done in close coordination with academic institutions and is funded through government and non-profit grants.
  2. Preclinical Trials (Phase 0). The goal of this stage is to test the efficacy, dosage, and safety conditions of the therapy on animals (typically rodents), which will hopefully translate to humans. A few potential drug candidates (variants of a similar drug) are evaluated and the most safe and efficient candidates are chosen. Private funding typically comes in at this stage of development.
  3. Clinical Trials (I, II, III). The clinical phase is defined by human trials, as opposed to testing the drug in animals or in vitro. It has three phases: I, II, and III, and concludes with the filing of a New Drug Application (NDA) with the appropriate regulatory authorities (like the FDA in the United States or the TGA in Australia).
  4. Commercialisation. At this stage, drugs are taken over by pharmaceutical companies to take the technology to market (sell it to doctors, negotiate with insurance companies for patients to get access to the drug).
  5. Phase IV trials. This stage involves the safety surveillance (pharmacovigilance) and ongoing technical support of a drug after it receives permission to be sold.
How will BioDAO connect on-chain governance and off-chain projects?
- BioDAO will provide deal flow, diligence, and funding recommendations to DeBio Fund, set up as a traditional VC fund. BioDAO is not a venture capital fund and will not fund biotech projects or hold equity in the projects.
- BioDAO will replenish its treasury from performance fees paid by DeBio Fund based on successful milestones (e.g., exit events).
How will BioDAO source biotech projects?
- BioDAO will source projects in the following ways:
  1. Community sourced deals (bounty incentivized)
  2. Co-funding with VCs
  3. Partnerships with Universities and Tech Transfer Offices (TTOs)
  4. Drug repurposing and funding spin-off assets from pharmaceutical companies
What scientific areas will BioDAO focus on?
- Initially, BioDAO will focus on oncology, immuno-oncology, cell and gene therapy, and techbio (e.g., AI/ML in drug discovery). These areas have higher multiples during liquidity events and generally have a faster time to IND (permission to start human clinical trials) at lower costs. In addition, these areas are more likely to attract financing at later stages of development as they match primary focus areas of the pharmaceutical industry.
- In the future, BioDAO may expand its focus to diagnostics (e.g., early disease detection) and broader biotech applications (e.g., lab grown meats). This will be discussed and decided by the DAO members.
How will BioDAO minimize risks of early stage biotech projects?
- BioDAO will minimize risks by focusing across a broad spectrum of projects ranging from cell and gene therapy to AI in drug discovery and providing expertise and operational support to projects. At later stages, BioDAO may bring preclinical development in-house, thus, reducing its costs.
How will BioDAO diligence biotech projects?
- BioDAO will develop in-house expertise by having members with expertise in certain biological pathways and modalities. BioDAO will involve outside experts as needed for specific project needs.
How much does it cost to fund one biotech project?
- Cost to fund a biotech project depends on the phase of development. Earliest stage of development (initial proof-of-concept studies) can range anywhere from $100,000 to $2 million.

PreviousRoadmap

Last updated 2 years ago