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Biomedical and scientific companies are turning to blockchain technology and crypto-treasury strategies to fund research, revising traditional capital formation and research funding structures that can delay life-saving treatments for decades.
Portage Biotech, a biomedical technology company, has pivoted to become a Toncoin (TON) Treasury company in September, earning operating income from staking to secure the network and invest in Telegram ecosystem projects, including games and mini-apps.
The company will channel a portion of the revenue generated from TON’s operating activities and capital appreciation to fund cancer research, AlphaTON CEO Brittany Kaiser told Cointelegraph.
She said the company is exploring real-world asset tokenization (RWA) as an alternative financing mechanism to decentralize scientific development and remove the financial and access barriers to research funding inherent in the traditional system. She said:
“We do research on the best case studies and what worked and what didn’t, from the tokenization of intellectual property, to the tokenization of the equity of the company that owns the research, to the tokenization of the future profits of the research.”
Kaiser and Anthony Scaramucci, AlphaTON’s strategic advisor, said that biomedical research as an operating vertical distinguishes the company from other digital asset treasuries, which often lack operational businesses.
“Most cryptocurrency treasury companies take the shell and remove the primary aspect of the original business, but this is a new case because there are very valuable assets in the shell,” Scaramucci told Cointelegraph.
Related: BNB’s treasure run accelerates as DNA Applied, CEA Industries expands stake
The ideosphere wants to fund scientific research through prediction markets
Ideosphere, a decentralized science startup, is exploring the financing of scientific research in the first phase through forecasting markets. Prediction market platforms act as intelligence mechanisms and crowdsourced voting.
“If you can create prediction markets around initial research, you can make those markets a market for ideas that actually bring in the money,” Ideospehre co-founder and chief technology officer Rei Jarram told Cointelegraph.
“Researchers can propose working hypotheses, and traders can speculate on it, and the spread goes to the researcher,” he added.
Bio Protocol secures funding from Animoca Brands
In September, Bio Protocol, a decentralized scientific platform that combines artificial intelligence, blockchain and community participation for drug discovery research, secured $6.9 million in funding from the Web3 company Animoca Brands and the Maelstrom fund.
Arthur Hayes, founder of Maelstrom he said the platform has the potential to become a full-fledged “native AI research market” that can change the way scientific research is done.
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