Beyond Biotech: TechBio is the "New Wave"
The next era of human advancement is going to be led by TechBio companies.
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It was after I read "How to Change Your Mind" by Michael Pollan that I started thinking about biotechnology and emerging innovations. This got me looking into companies like Atai Life Science and Compass Pathways, which are changing how we treat mental problems like depression, anxiety, and schizophrenia. They use special technology such as Artificial Intelligence (AI) and Machine Learning to find new drugs faster, rethink how we use old ones with more data, and make patient care better with digital treatments.
“Biotechnology is defined as the utilization of biological processes, organisms or systems to produce products that are anticipated to improve human lives.”
“Roughly 20 years ago, Apple's Co-Founder Steve Jobs was asked about the most disruptive developments he saw on the radar. His answer was: 'The biggest innovations of the 21st century will be at the intersection of biology and technology. A new era is beginning. '
From Biotech to TechBio: while traditional Biotech perceives technology as a mere tool for addressing biological issues, TechBio positions technology as the primary driver of biological innovation. Today, with the aid of remarkable enabling technologies, we're unlocking the immense potential of biology to heal, nourish, and sustain our planet.
Now, let's look at some real-life examples of TechBio, categorized by different types of technology:
Artificial Intelligence (AI) and Machine Learning:
Drug Discovery: Healx, based in Cambridge, UK, applies AI to accelerate drug discovery for rare diseases.
Personalized Medicine: Sophia Genetics (Switzerland) offers a data-driven platform that combines AI and ML algorithms to analyze genomic data from patients and provide insights into personalized treatment options for genetic disorders and cancer.
Biological Imaging and Sensing:
Medical Imaging: Aidence, based in Amsterdam, Netherlands, develops AI-driven medical imaging solutions for radiology departments.
Genomics and Gene Editing:
CRISPR-Based Gene Editing: CRISPR Therapeutics, headquartered in Zug, Switzerland, focuses on developing CRISPR-based therapies for genetic disorders.
Investment
In recent years, the Biotech public markets have struggled to rebound, with the S&P Biotechnology Select Industry Index plummeting over 50% from its peak in February 2021 to the fourth quarter of 2023. Only 30 Biotechs went public in the first three quarters of 2023, compared to 114 in 2021. Despite this, venture capital (VC) funding has been a vital lifeline for Biotech innovation, remaining robust and even surpassing prepandemic levels.
I got curious and wondered if blockchain could be used to improve biotechnology. To my surprise, I found Decentralized Finance for Biotech.
Decentralising Biotech
The biopharma industry faces challenges in aligning incentives and funding. Academic labs often struggle to secure funding for early career researchers and risky projects.
Platforms like Molecule and VitaDAO address these issues by creating open ecosystems for community-driven research funding. These platforms enable diverse groups to fund, own, and govern therapeutic intellectual property, fostering collaboration and risk-sharing. Patients can choose which projects to fund and later own the treatments developed. This model empowers communities and accelerates impactful research in biotechnology.
Before delving into specifics, let's establish the definition of DAO: DAO is a new way to collectively finance, govern, and share value on the blockchain.
Molecule AG
HQ: Berlin, Germany
Investment: Molecule has raised a total of €18.3 million in funding.
Product: Molecule is a decentralized Biotech protocol, building a web3 marketplace for research-related IP. The platform and scalable framework for biotech DAOs connects academics and Biotech companies with quick and easy funding, while enabling patient, researcher, and investor communities to directly govern and own research-related IP.
Founder: Tyler Golato founded the company in 2018 together with Paul Kohlhaas.
VitaDAO
HQ: Ottawa, Canada
Investment: VitaDAO has raised a total of €8.4 million in funding, backed By Pfizer and Balaji Srinivasan (CTO Coinbase).
Product: VitaDAO is a decentralized, community-owned collective dedicated to funding and advancing early stage longevity science research. Their mission is to support researchers who are working to pre-empt the onset of age-related diseases, and to bring new therapeutics to market that allow people to live longer, healthier lives.
Founder: VitaDAO was started in 2021 by Tyler Golato of decentralized Biotech protocol Molecule to fund longevity research. Among the main Contributors & Advisors are Vincent Weisser, Eleanor Davies and Paolo Binetti.
The time for solving the world’s most significant problems is now; and science has never been more central to shaping a better future.
+ TechBio is good
P.S. I used some of the following sources to obtain the data for this article:
(1) IOPscience (2) NFX (3) Longevity.Technology (4) McKinsey
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