Molecule Ecosystem, September 2023
DeSci.Berlin recap, Nature Biotech's DAO Nod & Karikó's Nobel Prize
The Karikó problem: Lessons for funding basic research
Katalin Karikó's groundbreaking mRNA research faced years of rejection. This week, she and her colleague won the Nobel Prize in Medicine. Her journey shows the flaws in how we fund science: only backing 'safe bets' overlooks potential game-changers. Funding should be diversified to include unorthodox and overlooked researchers. Doing so might sound risky, but even one more Karikó would make it all worthwhile. Statnews took a look at the Karikó problem and lessons for funding basic research. Read the article here.
Recapping DeSci.Berlin 2023
This year, DeSci.Berlin took place on the 8th & 9th of September. This year's event was centered around Biotech DAOs (Decentralised Autonomous Organisations), more commonly known as BioDAOs, and attracted a diverse group of attendees; scientists, investors, builders, developers, venture capitalists, and general decentralized science enthusiasts.
While all the discussions, panels, and workshops over the two days offered incredible insights, we've chosen to offer a quick summary of some highlights from our Main Stage talks for those who may have missed them:
Paul Kohlhaas - The Decentralized Science Ecosystem
Paul opened the event on the 8th, sharing some promising growth metrics of the DeSci community as a whole. Paul mentioned that the current ecosystem comprises:
>$8m in research funded,
More than 50,000 community members, and
A cumulative market cap of BioDAOs reaching $75m.
Re-watch Paul’s opening talk here.
Tyler Golato - A Pattern Language for DeSci
With Tyler’s talk, he identifies gaps in the healthcare system (particualry the U.S healthcare system), and:
Criticizes the healthcare system for lacking patient-centric incentives,
Proposes Decentralized Science (DeSci) to enable patient involvement in drug development,
Introduces a "pattern language" as a framework for effectively implementing DeSci. A methodological tool for decentralized science. This pattern language could serve as a framework that allows for the modular design of scientific research. The pattern language acts as a common language that streamlines the process of scientific inquiry, making it more transparent, reproducible, and decentralized.
Watch Tyler’s talk here.
Laura Minquini (AthenaDAO) - AthenaDAO: How to Barbie DeSci
Laura highlights the systemic underfunding in women's health research, referencing that only 11% of the National Institutes of Health (NIH) 2022 budget was allocated to this area.
Laura introduced AthenaDAO, a Decentralized Autonomous Organization (DAO), as an innovative mechanism to facilitate translational women's health research. AthenaDAO has successfully funded their first intellectual property non-fungible token (IP-NFT) and is close to minting their second one.
AthenaDAO strategically targets the most underfunded areas in women's health, such as menopause and endometriosis, and has received research submissions from academic institutions like Harvard and Cambridge.
Watch Laura’s talk here.
Puja Ohlhaver - How to fund Breakthrough Innovations in Science
Puja challenged conventional wisdom and inspired new perspectives on scientific innovation. She explored the many pitfalls and challenges in funding breakthrough innovations in science and offered a ten-step roadmap to revolutionize the way we think about financing these innovations.
Watch Puja’s talk here.
Juan Benet - A Deep Dive into DeSci
Juan Benet was interviewed by Vincent Weisser, taking a deep dive into DeSci with the following main points:
Juan identified translational science as the most significant challenge in science today, emphasizing the need to convert scientific discoveries into real-world applications for societal benefit, particularly in human health.
The interview also explored the transformative potential of cryptocurrency in accelerating scientific research, offering new avenues for funding and collaboration.
Listen to the entire interview here.
Matti G - Zee Prime Capital DeSci Culture: Commercialization of Research
Matti’s talk defines DeSci as an experimental quest for better knowledge, contrasting the British Enlightenment's approach of "controlled disobedience" to Continental Europe's focus on obedience. Blockchain and crypto are presented as tools that can democratize science and research, making it more accessible and less dependent on traditional power structures. And the ultimate product of crypto is identified as culture, suggesting a shift from User Generated Content to User Generated Products, with DeSci potentially playing a role in this transition.
Re-watch Matti’s talk here.
Nature Biotechnology and BioDAOs
Nature Biotechnology has published an article that not only acknowledges but also champions the role of DAOs in transforming scientific funding and community engagement.
Why This is a Big Deal
The fact that a prestigious journal like Nature Biotechnology is discussing DAOs is a testament to their increasing legitimacy and potential impact. This isn't just a nod from the scientific community; it's a call for everyone to take notice.
Below are some Key Takeaways from the Article:
DAOs employ blockchain technology for transparent and democratic decision-making. This fosters a community-driven approach involving diverse stakeholders like researchers, clinicians, and even patients.
DAOs have the potential to revolutionize IP management. Successful projects can result in IP-NFTs, which are owned and governed by the DAO community and can be commercialized or developed further.
The article highlights VitaDAO as an example for longevity research, AthenaDAO as an example of women’s health research, and ValleyDAO for synthetic biology and climate change, indicating the model's adaptability to various scientific domains.
Read the article here.
Messari Crypto’s Mainnet
Molecule’s Chief Legal Architecht, Jesse Hudson discussed the intersection of legal contracts and smart contracts in the realm of scientific intellectual property at Mainnet, 2023. Recording coming soon!
Virtual DeSci Conference by ResearchHub
ResearchHub and the ResearchHub Foundation recently hosted one of the world’s first fully virtual DeSci conferences. On their BioDAO panel all panelists emphasized the importance of collaboration and community in solving complex problems. Traditional science has become siloed, and DAOs offer a way to break down these barriers.
IP-NFTs were highlighted as a common element among the BioDAOs. Chris Byrnes from Molecule elaborated on this, describing IP-NFTs as "legal primitives" that can tokenize and define intellectual property rights. They can represent anything from a licensing right to an assignment of property altogether. By putting these on a blockchain, the inefficiencies of the traditional IP system can be addressed. Watch the full panel here.
ResearchHub co-founder Brian Armstrong drew parallels between his experience at Coinbase and the need for easy onboarding to engage scientists in decentralized innovation. He argues that the current academic system is disconnected from market forces, leading to risk-averse, incremental research. He envisions Research Hub as a platform that could incentivize high-risk, high-reward research, potentially leading to commercial products. The conversation concludes with the idea that aligning financial incentives could revolutionize how scientific research is conducted and rewarded. Watch Brian Armstrong’s talk here.
Thanks for Reading!
If you enjoyed this read, subscribe to our newsletter and stay updated as the ecosystem grows. Please reach out to us with any questions or ideas, visit our website, or join our Discord to interact directly with our team. We’re really looking forward to joining forces with our community to create a world where patients directly fund researchers developing the next therapeutic breakthrough they need and building an open, inclusive, and collaborative ecosystem.
As we continue to work towards a different era of drug discovery, our focus for this year is to incubate and launch more BioDAOs, fund more IP-NFTs, synthesize IP Tokens out of IP-NFTs, and continue to connect web3 to the real world - Let’s build!