Binance Labs has invested in BIO Protocol (BIO), a pioneering protocol transforming the way early-stage scientific research is financed and commercialized using blockchain technology. This investment marks Binance Labs’ first venture into the Decentralized Science (DeSci) sector.
BIO can be thought of as a Y Combinator for on-chain Science. The platform enables a global community of scientists, patients, and investors to collectively fund, develop, and co-own new drugs and therapeutics through its network of Biotech Decentralized Autonomous Organizations (BioDAOs). The protocol’s innovative approach addresses critical gaps in traditional scientific funding, particularly in areas such as rare diseases, longevity research, and emerging health challenges.
Currently, BIO’s network consists of seven BioDAOs focused on diverse areas such as cryopreservation, women’s health, and psychedelics for mental health. The protocol’s next cohort includes projects accelerating a cure for Long COVID and rare diseases, and developing quantum microscopes to observe quantum biological phenomena, further expanding the reach and impact of community-driven science.
This new funding will fuel the expansion of the BioDAO ecosystem, enabling seed funding for new BioDAOs and strengthening the network of service providers offering them community and tokenomics support. This will help realize BIO’s vision of creating autonomous infrastructure for scientific funding and acceleration, fueled by advancements in AI, drug design, and open-source computational biology.
“BIO Protocol represents a significant step forward in DeSci by merging biotechnology and DeFi. At Binance Labs, we are dedicated to unlocking groundbreaking advancements that drive long-term, real-world impact by supporting projects building meaningful technology—an approach that closely aligns with our investment in BIO,” said Andy Chang, Investment Director, Binance Labs.
“Science drives human progress, but we’ve trapped our brightest minds in an endless funding maze – they spend 80% of their time writing grants instead of solving humanity’s greatest challenges. Binance Labs’ support will help shatter this broken system. As the undisputed leader in global liquidity, Binance Labs will help us unlock scientific breakthroughs from Boston to Singapore to Bangalore, catalyzing patient-driven research at a scale that was impossible until now. This isn’t just innovation – it’s a revolution in scientific funding,” said Paul Kohlhaas, Founder, BIO Protocol.