November 8, 2024
BIO Protocol has announced an investment from Binance Labs, marking the latter’s entry into the decentralized science (DeSci) sector. The funding will support BIO’s efforts to transform the financing and commercialization of scientific research through blockchain technology. BIO Protocol addresses inefficiencies in traditional funding systems by enabling collaborative development and ownership of new therapeutics, with a focus on areas such as rare diseases and other health challenges.
Founded by members of VitaDAO, BIO Protocol is a decentralized platform that enables scientists, patients, and investors to fund and co-own biotechnological innovations. The platform is organized around BioDAOs, which focus on fields like cryopreservation, women’s health, and mental health treatments. BIO leverages blockchain to provide transparent, community-driven funding. With seven BioDAOs, its focus is now expanding to projects targeting long COVID, rare diseases, and quantum biological phenomena.
The latest funding round will fuel the expansion of the BioDAO ecosystem and provide essential seed funding for new BioDAOs. Additionally, the investment will support service providers assisting these DAOs, particularly in areas such as community building and tokenomics. This will further BIO’s vision of creating a self-sustaining, blockchain-powered infrastructure to support scientific research outside the traditional pharmaceutical framework.
About BIO Protocol
BIO Protocol is a decentralized platform that enables scientific communities to fund, develop, and co-own biomedical research, focusing on areas like longevity, brain health, and rare diseases. Using blockchain technology, BIO facilitates collaboration among scientists, patients, and investors to bring innovative therapies to market, bypassing traditional pharmaceutical constraints. Founded by members of VitaDAO, BIO aims to transform scientific funding and accelerate global health breakthroughs.
Website: https://www.bio.xyz/
X: @bioprotocol
About Investor
Binance Labs
Binance Labs is a venture capital firm and incubator that supports early-stage Web3 projects. With over 250 investments across six continents, it focuses on technology innovation and sustainable revenue models. Known for its chain- and sector-agnostic approach, Binance Labs backs projects from infrastructure to application layers, prioritizing long-term impact.
Location: Cayman Islands
Website: https://labs.binance.com/
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