VitaDAO Community Approves Launch and Financing of Its First Biotech Company

ROCHESTER, N.Y., Oct. 12, 2023 /PRNewswire/ -- VitaDAO, the global online community driving early-stage longevity research through innovative funding collaborations announced today the launch of its very first biotech company, Matrix Biosciences. This significant milestone comes from a community-wide vote and approval in favor of a collaboration with Vera Gorbunova, Ph.D., Co-Chair of the University of Rochester's Aging Research Center.

"I am looking forward to beginning this partnership with VitaDAO," said Dr. Gorbunova, "The funding and support from the VitaDAO community will bring Matrix Biosciences one step closer to delivering groundbreaking treatments that will significantly improve outcomes for our vulnerable aging patient population. While this is a first step for Matrix Biosciences, it is only the beginning of the transformative impact these treatments can have on the lives of individuals suffering from cancer and aging-related disorders."The community decision to launch Matrix Biosciences marks a significant step forward for VitaDAO as it advances its early portfolio assets toward its next development milestones. The first tranche of $300,000 from VitaDAO will be followed by further funding through tokenization of IP in early 2024.

This essential support will facilitate the commencement of preclinical studies aimed at testing novel hyaluronic acid-based compounds. Leveraging its cutting-edge research, Matrix Biosciences aims to pinpoint an optimal drug candidate for the treatment of cancer and aging diseases.

Anthony Schwartz, PhD from VitaDAO added, "Matrix Biosciences is navigating a complex development pathway commonly encountered by many early-stage companies during the initial stages of drug discovery. Thanks to the collective drug development experience from VitaDAO's online community and the collaborative nature and expertise of Dr. Gorbunova and the Matrix Biosciences team, we now have a well-designed development strategy in an area that has traditionally lacked the know-how or an established path. We are pleased with the early data generated thus far and its potential for advancing into clinical trials. On behalf of the community, VitaDAO is excited to embark on this journey with the Matrix Biosciences team."

VitaDAO is focused on being the most efficient allocator of resources in aging and longevity research. By leveraging the talent of its academic community, VitaDAO continues to drive transformative advancements in aging diseases and longevity research.

About Matrix Biosciences

Matrix Biosciences is a pioneering company dedicated to the development of high molecular weight hyaluronic acid (HMW-HA) therapeutics for cancer and aging-related disease. The company's pipeline is based on the observation that naked mole rats, long-lived rodents, have a lifespan of up to 40 years, compared to normal rats which live about 3 years. These rodents are found to be cancer resistant which is controlled by an abundance of HMW-HA in their tissues. Research has demonstrated that transgenic mice expressing naked mole rat hyaluronan synthase gene (NHAS2) have fewer tumors, improved health, and live 10% longer than rats without the transgene. The Company is developing a class of small molecules that modulate hyaluronidases for potential applications in cancer and increasing human healthspan and lifespan.

For more information about Matrix Biosciences and its research, please visit www.matrixbio.co

About VitaDAO

VitaDAO is a community-owned collective dedicated to funding and advancing early stage longevity research. With strategic contributors such as Pfizer Ventures and Shine Capital among over 10,000 members, VitaDAO brings together the forefront of decentralized science and web3 including enthusiasts like Balaji Srinivasan, former CTO of Coinbase. VitaDAO has successfully funded 19 projects, deploying over $4M in capital to date. Members can join VitaDAO by purchasing VITA tokens or earning them through contributions of work or intellectual property.

For more information about VitaDAO, please visit www.vitadao.com

Resources: https://www.vitadao.com/vitadao-press-kit

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SOURCE VitaDAO