The founders of VitaDAOA Web3 community dedicated to longevity research and healthcare products, BIO has launched, a “new protocol that enables global communities of patients, scientists, and biotech builders to collectively fund and commercialize new therapeutics,” according to the team: “Revenue from new therapeutics is fed back into the BIO Network, creating value for network participants. BIO has completed the first round of its TGE, raising $6.2 billion in a public sale, with participation from VCs including Zee Prime, 1kx ID Theory. Details on BIO’s second round of TGE will be announced soon.” According to the project’s documentation: “BioDAOs raise funds through token sales and use their treasury to support and develop biotech projects related to their mission, creating shared IP ownership among their members. BioDAOs use Molecule’s onchain IP framework to own, license, and transact intellectual property generated from the projects they support.”