Introducing PoSciDonDAO: The first community-owned collective funding personalized medicine research for life-altering diseasesIn 2020, there were approximately 19.3 million new cancer cases globally (Sung, Hyuna. et al., 2021)
By 2050, 152 million people worldwide will have Alzheimer's disease or some other form of dementia (Nichols, Emma, et al., 2022).
These life-altering diseases are too familiar for many people nowadays. The older we get, the more people will be affected by these diseases. Unfortunately, these diseases have limited treatment options and new drugs have a high failure rate in clinical trials (Sun, Duxin, et al., 2022).
Personalized medicine: the future of research and health care
The only way to find a cure for these diseases is to perform ‘personalized medicine research’. Personalized medicine research focuses on identifying patient subpopulations based on their genetic background and many other patient characteristics (Goetz et al., 2018). For example, cancer drugs called Imatinib and Dasatinib seemed to be only effective in chronic myeloid leukemia (CML) patients that have a specific genetic mutation (Carlson, 2008). These drugs have saved thousands of patients with CML. This shows that personalized medicine research is the key to improving patients' lives.
Getting funding for personalized medicine research - a worldwide issue
Unfortunately, obtaining funding for personalized medicine research can be a daunting task, as the traditional funding process is often considered slow, time-consuming and requires substantial resources (Pew Research Center, 2009). In addition, a lot of personal and institutional bias infiltrates the funding process, making it even more difficult for researchers to obtain funding for their research. Another issue is the high retention of donated funds by fundraisers, resulting in only 40-60% of the funds going to charities and even lower amounts reaching the scientific community (James, 2022). This phenomenon heavily reduces the amount of personalized medicine research that can be done and limits societal innovation and progress.
The Solution: PoSciDonDAO
We are PoSciDonDAO, and we are a decentralized autonomous organization (DAO) with one goal: democratizing and streamlining the funding and commercialization process of personalized medicine research.
PoSciDonDAO democratizes and streamlines the funding process by leveraging blockchain technology. This technology allows us to reduce bias and limit the middlemen in the funding process which leads to more funds used for personalized medicine research.
Your chance to become part of the solution that science needs
A key aspect of PoSciDonDAO is our governance token called SCI. Anyone can buy and hold the SCI token, which allows you to vote on proposals regarding DAO operations and regarding who becomes part of the Due Diligence crew or not. The Due Diligence crew is a network of personalized medicine research experts that source research projects and evaluate which projects should get funding.
Intellectual property in the hands of our community
Through PoSciDonDAO, we fund personalized medicine research projects that aim to commercialize their research output in the form of data and intellectual property assets. We also fund startups in return for equity. As a sovereign and decentralized entity, PoSciDonDAO holds all these assets and the SCI holders determine what should be done with these assets. Our end-goal: community-driven pricing and maximum accessibility of life-saving therapies.
Getting involved and why you should too
At PoSciDonDAO, we welcome everyone to join the community. Regardless of if you’re an expert in oncology or a PhD candidate, we welcome anyone focusing on personalized medicine research to submit proposals or even join the DAO as a community member and join a crew. As well, if anyone wants to contribute, anyone with any discipline is invited to share their perspectives. We believe everyone has a voice and can contribute.
We keep our social media and website up to date, but where the most thinking and action happens in our Discord. You can even check our Whitepaper for the real nitty-gritty details.
Since this is a community-driven collective, our members are the key players in voting on IP licensing and more. You can have a say in shaping not only PoSciDonDAO but also the future of scientific funding and research.
Learn more about us by reading the whitepaper: https://poscidondao.com/Whitepaper.pdf
Join the revolution of research funding: https://discord.gg/ZZ5yyTMTH6
Stay up to date by following us on X/Twitter: https://twitter.com/PoSciDonDAO
ReferencesFunding Scientific Research.” Pew Research Center - U.S. Politics & Policy, Pew Research Center, 9 July 2009,https://www.pewresearch.org/politics/2009/07/09/section-3-funding-scientific-research/.
Sun, Duxin, et al. “Why 90% of clinical drug development fails and how to improve it?” Acta Pharmaceutica Sinica B, vol. 12, no. 7, 2022, pp. 3049–3062, https://doi.org/10.1016/j.apsb.2022.02.002.
Goetz, Laura H., and Nicholas J. Schork. “Personalized medicine: Motivation, challenges, and progress.” Fertility and Sterility, vol. 109, no. 6, 2018, pp. 952–963, https://doi.org/10.1016/j.fertnstert.2018.05.006.
Carlson, Bob. “What the Devil Is Personalized Medicine?” Biotechnology Healthcare, U.S. National Library of Medicine, May 2008, www.ncbi.nlm.nih.gov/pmc/articles/PMC2651699/
James, Letitia. “Pennies for Charity.” November 2022, https://ag.ny.gov/sites/default/files/2022-pennies-for-charities-report.pdf
Sung, Hyuna, et al. "Global cancer statistics 2020: GLOBOCAN estimates of incidence and mortality worldwide for 36 cancers in 185 countries." CA: a cancer journal for clinicians 71.3 (2021): 209-249.https://doi.org/10.3322/caac.21660
Nichols, Emma, et al. "Estimation of the global prevalence of dementia in 2019 and forecasted prevalence in 2050: an analysis for the Global Burden of Disease Study 2019." The Lancet Public Health 7.2 (2022): e105-e125. https://doi.org/10.1016/S2468-2667(21)00249-8.