VitaDAO is a global collective on a mission to fund novel longevity research and democratise IP - making it accessible to patients across the globe. VitaDAO will hold a launch event to release its governance tokens to DAO members and raise funds for the VitaDAO community-governed treasury. The VitaDAO community aims to raise $2.5M to fund two things:
Assets are IP like patents. The value of a patent can be in the $Ms or $Bs. VitaDAO has opportunities to take minority stakes in existing assets, such as those from Revivo Therapeutics.
Projects are university or non-profit-led research where VitaDAO can obtain a license to the IP generated. VitaDAO has exclusive license to the IP assets generated in its 1st project with the Scheibye-Knudsen lab at University of Copenhagen.
$2.5M to fund at least 5 projects (NOTE: These numbers are subject to change. We are making them public for discussion purposes)
- Assets: $20K per patent filing.
- Each project is expected to generate at least one patent filing.
- Projects: $250K per project
- Covers 6-12 months of project costs.
- Follow-on: $100 - $250K per follow-on costs to the biggest projects.
CAVEATS AND FUTURE PLANS
A constraint on the total amount of funding that goes to the research itself is that universities charge on average 60% overhead. For starters, VitaDAO is focused on small molecule drugs. Later it may consider other categories of assets such as genetic medicines, diagnostics, software, and datasets.
VitaDAO wants to be a leader like Gitcoin in showing the world that cryptocurrencies can be used for good with non-profits too. Following VitaDAO’s launch sometime in the late summer/fall of 2021, VitaDAO is considering a partnership with Gitcoin supporting non-profit research into longevity.