The founders of VitaDAO, a Web3 community devoted to longevity health research and products, launched BIO, a “new protocol enabling global communities of patients, scientists and biotech builders to collectively fund and commercialize new therapeutics,” according to the team: “Revenue from new therapeutics flow back into the BIO Network, creating value for network participants. BIO completed the first round of its TGE, raising $6.2 in a public sale, with participation from VCs like Zee Prime, 1kx ID Theory. Details on the second round of BIO’s TGE will be announced soon.” According to the project documentation: “BioDAOs raise funding via token sales, and use their treasuries to back and develop biotech projects related to their mission, creating shared IP ownership between their members. BioDAOs use Molecule’s onchain IP framework to own, license, and transact in intellectual property generated from the projects they support.”
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