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VitaDAO, a decentralized autonomous organization (DAO) focused on raising funds for research on extending human life, has closed a $4.1 million funding round with Pfizer Ventures and several others.
VitaDAO was started in 2021 by Tyler Golato of decentralized biotech protocol Molecule to fund longevity research. According to the organization, it boasts a community of over 9,000 "enthusiasts, researchers and contributors," and deployed over $3.5 million to projects researching diseases of aging, cellular biology and repairing age-related damage to the body in 2022.
The latest funding round includes pharmaceutical giant Pfizer Ventures; venture fund Shine Capital; investment group L1 Digital; decentralized science organizations BeakerDAO and Spaceship DAO; and longevity enthusiasts including former Coinbase Chief Technology Officer Balaji Srinivasan and Retro Biosciences' Joe Betts-LaCroix. Previous investors include Ethereum co-founder Vitalik Buterin.
According to VitaDAO, Pfizer is the first pharmaceutical company to vote on DAO proposals and participate in the incubation and commercialization of VitaDAO projects.
Proceeds from the latest round will go toward funding longevity research projects and building out VitaDAO's first biotech startup, slated to be announced in the first quarter of 2023. In addition, the group plans to invest further in the "commercialization and licensing" of its non-fungible token (NFT) intellectual property (IP) through its partnership with Molecule.
#vita #VITADAO #Pfizer
VitaDAO was started in 2021 by Tyler Golato of decentralized biotech protocol Molecule to fund longevity research. According to the organization, it boasts a community of over 9,000 "enthusiasts, researchers and contributors," and deployed over $3.5 million to projects researching diseases of aging, cellular biology and repairing age-related damage to the body in 2022.
The latest funding round includes pharmaceutical giant Pfizer Ventures; venture fund Shine Capital; investment group L1 Digital; decentralized science organizations BeakerDAO and Spaceship DAO; and longevity enthusiasts including former Coinbase Chief Technology Officer Balaji Srinivasan and Retro Biosciences' Joe Betts-LaCroix. Previous investors include Ethereum co-founder Vitalik Buterin.
According to VitaDAO, Pfizer is the first pharmaceutical company to vote on DAO proposals and participate in the incubation and commercialization of VitaDAO projects.
Proceeds from the latest round will go toward funding longevity research projects and building out VitaDAO's first biotech startup, slated to be announced in the first quarter of 2023. In addition, the group plans to invest further in the "commercialization and licensing" of its non-fungible token (NFT) intellectual property (IP) through its partnership with Molecule.
#vita #VITADAO #Pfizer
Pfizer Stock Experiences Steep 44% Annual Drop in Value.
In a recent announcement on Friday afternoon, Pfizer (NYSE: PFE), the world's largest pharmaceutical company, revealed the discontinuation of a two-day obesity drug trial, leading to a sharp decline in its shares by over 6%. The drug, named danuglipron, faced termination due to reported side effects observed in a previous study, causing Pfizer's stocks to plummet by 44.2% since the beginning of the year.
Pfizer Abandons Obesity Drug Trial Amidst Adverse Effects:
The decision by Pfizer to forego the Phase 3 trials of its obesity drugs, formulated for twice-daily administration, stemmed from the numerous adverse effects experienced by participants in an earlier study. The company cited the drug, danuglipron, and its discontinued trial due to the side effects emerging from a Phase 2b study, indicating statistically significant weight loss compared to a placebo.
"Danuglipron demonstrated weight reductions ranging from -8% to -13% over 32 weeks and -5% to -9.5% over 26 weeks compared to placebo," stated Pfizer in a press release.
Market Response: Pfizer Stocks Experience Sharp Decline:
As the news broke, Pfizer's shares experienced a rapid decline, reaching $28.58 and marking a nearly 45% loss since the beginning of the year. This downturn is attributed to a swift decrease in sales, driven by a decline in demand for Pfizer's COVID-19 products amid the global post-pandemic recovery. The company reported losses in Q3 due to challenges surrounding its COVID-19 vaccine and antiviral treatment, Paxlovid.
Ongoing Trends in Obesity Drugs: Novo Nordisk and Eli Lilly Lead the Way:
While Pfizer faces setbacks, the market for obesity and diabetes treatments continues to evolve, with Novo Nordisk and Eli Lilly at the forefront. Novo Nordisk's Wegovy, Eli Lilly's Ozempic, and Mounjaro have set a trend with injectable medications that mimic the effects of a gut hormone to regulate appetite and blood sugar.
Novo Nordisk's Success with Wegovy and Ozempic: Novo Nordisk's Wegovy and Ozempic have been key drivers of the company's growth, with their shares rising by 48% and 64.31%, respectively. These GLP-1 receptor agonists have gained approval in the United States for the treatment of type 2 diabetes, showcasing their effectiveness in managing both diabetes and obesity.Eli Lilly's Mounjaro and Zepbound, and the FDA Approval for Weight Management: Eli Lilly's Mounjaro, similar to Novo Nordisk's Ozempic, and Zepbound, akin to Mounjaro, have received approval from the U.S. Food and Drug Administration (FDA) not only for the treatment of type 2 diabetes but also for weight management. This dual approval positions these medications as versatile solutions for patients struggling with both conditions.
While Pfizer grapples with the discontinuation of its obesity drug trial, competitors Novo Nordisk and Eli Lilly continue to thrive in the evolving landscape of obesity and diabetes treatments. The industry's focus on innovative solutions reflects a commitment to addressing the complex challenges of these prevalent health conditions, providing hope for improved outcomes for patients in the future.
#Pfizer #NYSE #PFE #COVID-19
Pfizer Abandons Obesity Drug Trial Amidst Adverse Effects:
The decision by Pfizer to forego the Phase 3 trials of its obesity drugs, formulated for twice-daily administration, stemmed from the numerous adverse effects experienced by participants in an earlier study. The company cited the drug, danuglipron, and its discontinued trial due to the side effects emerging from a Phase 2b study, indicating statistically significant weight loss compared to a placebo.
"Danuglipron demonstrated weight reductions ranging from -8% to -13% over 32 weeks and -5% to -9.5% over 26 weeks compared to placebo," stated Pfizer in a press release.
Market Response: Pfizer Stocks Experience Sharp Decline:
As the news broke, Pfizer's shares experienced a rapid decline, reaching $28.58 and marking a nearly 45% loss since the beginning of the year. This downturn is attributed to a swift decrease in sales, driven by a decline in demand for Pfizer's COVID-19 products amid the global post-pandemic recovery. The company reported losses in Q3 due to challenges surrounding its COVID-19 vaccine and antiviral treatment, Paxlovid.
Ongoing Trends in Obesity Drugs: Novo Nordisk and Eli Lilly Lead the Way:
While Pfizer faces setbacks, the market for obesity and diabetes treatments continues to evolve, with Novo Nordisk and Eli Lilly at the forefront. Novo Nordisk's Wegovy, Eli Lilly's Ozempic, and Mounjaro have set a trend with injectable medications that mimic the effects of a gut hormone to regulate appetite and blood sugar.
Novo Nordisk's Success with Wegovy and Ozempic: Novo Nordisk's Wegovy and Ozempic have been key drivers of the company's growth, with their shares rising by 48% and 64.31%, respectively. These GLP-1 receptor agonists have gained approval in the United States for the treatment of type 2 diabetes, showcasing their effectiveness in managing both diabetes and obesity.Eli Lilly's Mounjaro and Zepbound, and the FDA Approval for Weight Management: Eli Lilly's Mounjaro, similar to Novo Nordisk's Ozempic, and Zepbound, akin to Mounjaro, have received approval from the U.S. Food and Drug Administration (FDA) not only for the treatment of type 2 diabetes but also for weight management. This dual approval positions these medications as versatile solutions for patients struggling with both conditions.
While Pfizer grapples with the discontinuation of its obesity drug trial, competitors Novo Nordisk and Eli Lilly continue to thrive in the evolving landscape of obesity and diabetes treatments. The industry's focus on innovative solutions reflects a commitment to addressing the complex challenges of these prevalent health conditions, providing hope for improved outcomes for patients in the future.
#Pfizer #NYSE #PFE #COVID-19
