TL;DR
- Binance Labs has made its first investment in the decentralized science sector with BIO Protocol.
- BIO Protocol allows scientists, patients, and investors to collaborate in the development and ownership of new medical treatments.
- With the support of Binance Labs, BIO seeks to expand its network of BioDAOs and enhance its infrastructure.
Binance Labs, the venture capital division of the exchange, has taken its first step into the decentralized science (DeSci) sector with an investment in BIO Protocol, a project that leverages blockchain to transform the financing and commercialization of early-stage scientific research.
This protocol offers a platform where scientists, patients, and investors can collaborate and co-own the development of new drugs and treatments. The investment by Binance Labs, whose exact amount has not been disclosed, aims to strengthen BIO’s mission of facilitating and decentralizing funding in traditionally underserved areas, such as rare diseases, longevity, and emerging health challenges.
https://twitter.com/BinanceLabs/status/1854889210626687130
BIO Protocol has already launched a token generation event known as BIO Genesis, which raised $6 million in its first phase with the support of major investment funds, including 1kx and Northpond Ventures, a biotech-focused fund.
Currently, BIO’s network includes seven BioDAOs, which focus on topics such as cryopreservation, women’s health, and the use of psychedelics for mental health treatment. By 2025, the protocol plans to expand its BioDAOs to other blockchains, including Solana, to broaden the accessibility and reach of its platform.
Binance and BIO Protocol Could Revolutionize Scientific Research Systems
The firm also plans to incorporate additional projects in areas like long COVID and rare diseases, as well as in the development of technologies such as quantum microscopes to study biological phenomena at a quantum level.
With Binance funding, BIO Protocol aims to grow its team and provide greater support in community and tokenomics for new BioDAOs. The platform will integrate research agents powered by artificial intelligence (AI) that will work in a decentralized manner within the network, optimizing the coordination and efficiency of scientific efforts.
Science with Autonomous Funding
BIO’s long-term vision is to build an autonomous funding infrastructure for science, based on AI, drug design, and open-source computational biology—something that will revolutionize access to and agility in the scientific knowledge creation process.
According to Andy Chang, Binance Labs’ Director of Investments, the investment in BIO aligns with the company’s commitment to supporting projects with a real, lasting impact. Binance’s support will unlock the potential of researchers, offering a system where patient-driven science can thrive without the limitations of traditional funding
This post was originally published on here
