Benzinga - Decentralized autonomous organization VitaDAO, which provides funding for longevity science research, has concluded a successful funding round, raising $4.1 million.
This round attracted a range of investors, including Pfizer's (NYSE: PFE) venture arm and Shine Capital, L1 Digital, and Balaji Srinivasan, among others, an official statement from the company stated, according to The Block.
This marks Pfizer's first investment in a decentralized autonomous organization, as the company holds governance tokens and participates in governance proposals through a special-purpose vehicle.
VitaDAO is part of the decentralized science (DeSci) movement, which is seeking to revolutionize the way research is funded and controlled by relying on crowdfunding and decentralized ownership.
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The goal of DeSci is to create a science ecosystem that is more efficient and effective, without the centralized control of governments and large institutions.
The projects supported by VitaDAO are funded through a combination of equity investments and non-fungible tokens that represent intellectual property.
This system is powered by technology from the related project Molecule, which allows researchers to list NFT projects on its marketplace.
The projects funded by VitaDAO are primarily focused on longevity and the aging process, having previously backed Turn Biotechnologies and a study from the University of Copenhagen.
With this new funding, VitaDAO plans to further finance longevity research projects and biotech startups emerging from the organization in the coming year.
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