Binance Labs, the venture capital arm of cryptocurrency exchange Binance, has made an investment in BIO Protocol, a blockchain-based platform for early-stage scientific research funding. This marks Binance Labs’ first investment in the Decentralized Science (DeSci) sector. BIO Protocol aims to reshape early-stage scientific research funding by offering an alternative to traditional funding avenues, particularly for underfunded fields like rare diseases and mental health.
The platform operates as a decentralized incubator, bringing together scientists, patients, and investors to finance and develop new biotechnologies. Binance Labs’ investment will help grow the BioDAO ecosystem, providing seed funding for new BioDAOs and supporting the decentralized research communities.
