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https://warpcast.com/~/channel/desci
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Did you know scientists currently spend ~80% of time applying for funding instead of doing actual scientific work? Biggest bottleneck is in the early stages, in the range of $100 to $500k, which is referred to as the "valley of death" in academia. In the profit-maxi pharma industry, drugs that cannot be "properly" monetized, often wont even get developed at all. Ones that do, are likely to be overpriced.
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😡 Extreme examples For example, price of Insulin increased x12 since 1996 & 2019. Or worse, a case when price of an IP protected drug Daraprim was increased >50x from $13.50 to $750 PER PILL. A somewhat happy ending where the owner was sued for blocking competition, was fined $64.6m, served time in prison and was banned from the pharma industry for life.
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🤑 Patient-funded medicine Besides unlocking research funding, having patients as IP owners should lead to better pricing, as patients are not profit-driven and are more likely to be compassionate with fellow suferers. If only there was a way for patients to pool capital and co-own intellectual property... Well, now there is! There isn‘t a better capital formation mechanism than crypto, and there isn‘t a better way for collective ownership of intellectual property, than, again, crypto.
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🤓 Solution With a combination of legal contracts, smart contracts, and encrypted data stored in decentralized file storage, @vitadao members pooled and voted on deploying over 2,000 ETH to research across 7 different DAOs, with additional 1,000 ETH raised by these new DAOs. They are working on various specialized research areas including @HairDAO, @cryodao, psychedelics, neuroscience, and quantum biology. Currently developing 5-6 new medicines - with two already on the market, one 2-3x more effective than previous treatment, both 100% owned on Ethereum.
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