Bio Protocol Co-Founder's Speech in Bangkok: BioDAOs Will Accelerate Biotech Development and Help Build a Global Scientific Network
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Bio Protocol Co-Founder's Speech in Bangkok: BioDAOs Will Accelerate Biotech Development and Help Build a Global Scientific Network
BioDAOs are dedicated to developing intellectual property (including research, drugs, and products) on-chain, focusing on specific scientific fields or diseases.
Navigating Web3 tides with focused insightsAuthor: Paul Kohlhaas bio/acc
Translation: TechFlow
New to decentralized science (DeSci)? Let me share how DeSci and BioDAOs work, based on my talk last week in Bangkok at @EFDevcon.
DeSci 2049 is a vision for the future of science—merging biotechnology with permissionless markets driven by open scientific data and free-market incentives.
Let’s start from the beginning: Bitcoin enabled permissionless money. ETH enabled permissionless code.
Many invest in crypto to preserve our autonomy and freedoms that are increasingly being eroded.
A similar movement is emerging in science and medicine, as our freedom to innovate, self-experiment, and disseminate scientific knowledge is being undermined by a broken biomedical R&D system.
The current system discourages curing diseases. In 2018, Goldman Sachs downgraded a biopharma company that developed a cure for Hepatitis C, questioning whether curing patients was a "sustainable business model."
Deaths from prescription opioids continue to rise. Our system requires lifelong customers.
Scientists spend too much time fundraising instead of doing science. Imagine if software developers spent most of their time raising capital instead of writing code.
Much of the world's scientific talent remains underutilized.
We’ve failed to realize a rich solarpunk future because we haven’t upgraded the foundational layers of science and technology.
This has led to a world full of scientific friction—not sci-fi.
What if we could build a permissionless world of science?
A self-sovereign science defined by open data and liquid markets designed to find cures.
Where do @Molecule_dao and @bioprotocol fit in?
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Molecule is a protocol that brings scientific intellectual property on-chain.
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BIO is a launch and acceleration engine purpose-built for on-chain scientific communities (BioDAOs), uniting scientists, patients, and investors.
BioDAOs focus on developing intellectual property (research, drugs, products) on-chain, centered around specific scientific domains or diseases.
For example, @vita_dao has funded multiple longevity science projects, including the VITA-FAST project at the @UniofNewcastle lab led by @Vikorolchuk.
Learn more about VITA-FAST here.
Details on $VITAFAST Token here.
Our team helped establish the first wave of BioDAOs across diverse scientific fields.
When I gave this talk last week, the total market cap of BioDAOs in our network was under $100M—now it exceeds $230M!
Data source here.
BIO guides scientists, patients, and biotech founders in moving scientific communities on-chain—from tokenomics and community building to fundraising and liquidity management.
BIO holders vote to onboard DAOs into the network—analogous to a community-owned accelerator—enabling strong teams to emerge and launch their communities on-chain.
Upcoming launches on the BIO platform include @endrarediseases, @QuantumBioDAO, and @longcovidlabs.
Some new BioDAOs focus on specific patient populations, seeking solutions and accelerating novel treatment pathways.
Curetopia (@endrarediseases) targets the rare disease market, worth over $1 trillion, led by Y-Combinator alum, Harvard PhD, and rare disease entrepreneur @eperlste, who advanced a drug to Phase 3 trials with just $5M—a fraction of the typical $100M+ cost.
Long COVID Labs (@longcovidlabs) aims to accelerate treatments for over 100 million global patients, led by former Stanford neuroscientist @rd108, who successfully self-treated long COVID.
@QuantumBioDAO is developing quantum microscopes to observe quantum biological phenomena, led by MIT PhD and one of the world’s leading quantum biology scientists, @ClariceDAiello.
To launch the protocol, BIO recently ran a Genesis event, inviting users to deposit supported DeSci tokens in exchange for BIO tokens. The Genesis event raised $33M for the BIO treasury, which now exceeds $53M due to rising DeSci token prices. Track the treasury here.
In addition, @BinanceLabs has invested in $BIO.
As a global leader in liquidity, Binance Labs will help us achieve scientific breakthroughs at an unprecedented scale.
Overall, BIO sits at the top of a growing BioDAO network, with each BioDAO developing specific drugs and therapies as tokenized scientific IP.
(VitaDAO’s portfolio value now exceeds $16M, significantly up since these slides were used)
Every stage of drug development has historically been opaque to the public. BioDAOs aim to advance each phase in a more open and transparent way using blockchain technology.
At the core of this new model are IP-NFTs, which allow anyone to anchor IP on-chain, making it programmable, tradable, liquid, and data-rich.
In essence, IP-NFTs are containers for intellectual property.
Once IP is sufficiently validated, IP-NFTs can be split into IPTs—governance tokens that enable individuals to actively participate in the scientific process.
IP-Tokens are the fundamental building blocks enabling shared ownership of IP within the DeSci economy.
VITARNA Case Study:
Backed by @vita_dao, Vita-RNA develops novel mRNA gene therapies, led by seasoned biotech founders @Mykalt45 and @aschwartzphd.
Received $300K in support; now valued at $27M.
More info here.
Token details here.
One of Vita-RNA’s lead drug candidates showed activity in vitro, driving its token price higher on Uniswap.
What’s next for the BIO Protocol? Note: all dates subject to change.
We’re inspired by the growing bio/acc movement.
Bio/acc aims to accelerate biology and challenge many widely accepted beliefs about health and medicine we've grown up with.
We were taught from childhood to accept aging as inevitable.
This mindset is flawed.
We must rely on corporations and institutions to drive scientific progress.
The pharmaceutical industry saves lives.
If computing is the foundation of intelligence, then biotechnology is the foundation of life.
This is a call to accelerate biotechnology.
BioAcceleration: speeding up longevity, neuroscience, genetic engineering, synthetic biology, fertility, and life itself—bio/acc.
Please sign the bio/acc manifesto at bioacc.life.
We must radically reform outdated scientific institutions and processes to accelerate biomedical discovery.
And build a global scientific network where anyone can participate.
Original link: https://x.com/paulkhls/status/1858546224514941269
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