TechFlow News — VitaDAO, a decentralized autonomous organization, has raised $4.1 million in funding, with participation from Pfizer Ventures, the venture capital arm of Pfizer, along with Shine Capital, L1 Digital, and Balaji Srinivasan.
This marks Pfizer’s first investment in the web3 space. The company holds governance tokens of Vita through a special purpose vehicle and has even participated in governance proposals. The announcement comes after Pfizer previously committed $500,000 to VitaDAO.
Projects funded by VitaDAO primarily focus on longevity and aging research, including support for Turn Biotechnologies, a Stanford University spin-off developing mRNA-based therapeutics, and a University of Copenhagen study exploring how drugs impact the aging process.
VitaDAO plans to use the funds to further finance longevity research projects and biotech startups that will spin out from the DAO next year. According to Snowball, Pfizer launched its venture fund, Pfizer Ventures, in 2018, planning to invest $600 million in biotech and other emerging growth companies.Original link
