BIO Protocol, a provider of a protocol for the early-stage scientific research, received an investment from Binance Labs.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate the expansion of the BioDAO ecosystem.
Founded by Paul Kohlhaas, BIO Protocol (BIO) BIO is an accelerator for on-chain Science. The platform enables a global community of scientists, patients, and investors to collectively fund, develop, and co-own new drugs and therapeutics through its network of Biotech Decentralized Autonomous Organizations (BioDAOs). The protocol’s innovative approach addresses critical gaps in traditional scientific funding, particularly in areas such as rare diseases, longevity research, and emerging health challenges.
Currently, BIO’s network consists of seven BioDAOs focused on diverse areas such as cryopreservation, women’s health, and psychedelics for mental health. The protocol’s next cohort includes projects accelerating a cure for Long COVID and rare diseases, and developing quantum microscopes to observe quantum biological phenomena, further expanding the reach and impact of community-driven science.
FinSMEs
18/11/2024