Molecule is a decentralized biotech platform with the aim of creating an open marketplace for medical research-related intellectual property. The platform connects biotech decentralized autonomous organizations (DAOs) with academics and biotech companies to provide them with funding while enabling patient, researcher, and investor communities to directly govern and own the research-related IP NFTs.
Molecule has over 250 listed research projects and is supported by three bio DAOs— VitaDAO , PsyDAO, and LabDAO—as of August 2022. The platform is built on the Ethereum blockchain and projects receive funding in stablecoins such as USDC. As of June 2024, the company had funded 12 research projects, with a total funded amount of USD 1.95 million.
Funding and financials
Molecule raised USD 13 million in seed funding in a round led by biotech venture capital firm Northpond Ventures. The company aimed to use the funds to develop an accelerator framework for biotech DAOs that target specific diseases by providing initial funding of USD 100,000.
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