Short Story

from: Andre.Chagwedera

Ideascale link

Problem statement :

Pharma funding is heavily centralised, many diseases lack treatments. Scientists trying to discover new treatments struggle to get funding.

Describe your solution to the problem

Open source, decentralised drug discovery (the Github for drug discovery) with crowdfunding (via augmented bonding curves) & DAO grants.

Relevant experience

9+ years in health and life sciences. Selected to be on a startup accelerator based in London. Have scientific advisors with decades of exp

Detailed plan (not required) – Fill in here any additional details

Overview
I’m proposing a decentralised, open-source drug discovery platform based on Cardano, where scientists can monetise & crowdfund their projects. The aim is to decentralise funding for pharma research and allow innovative research to translate into treatments,
The pharma industry tends to focus on particular diseases and does not necessarily base this decision on public health need. Only 500 of the estimated 10,000 diseases have treatments. 10% of research funding goes towards conditions that cause 90% of global preventable death, leading to a significant unmet need. The industry spends $200B globally on data/research, but 85% of it is wasted primarily because it is not shared. However, COVID-19 saw a flourishing of open source drug discovery and it was very successful, finding treatments in record time. There has been rejuvenated attention towards open science. Authorities such as the World Health Organisation (WHO) advocated for open science repeatedly throughout 2020.
The Product features
The key features of the platform will be:
1) Open source data sharing and collaboration: Ecosystem users can share and contribute to research and data shared. Examples of data shared could be drug targets, molecules, predictive models, lab books. Users can search and filter this information, which the platform aggregates and organises based on disease area, type of data and date shared. Users will receive updates as progress and requests are made on an area of their interest;
2) Monetisation: Scientists can primarily do this through crowdfunding via the “augmented bonding curve” (ABC) mechanism. ABC is, in essence, a smart contract where users generate their own unique fungible token for their project. When users donate to this smart contract (using the platforms utility token) they receive these unique tokens based on their donation amount (token value is determined by demand/increasing supply, which in turn is determined by how promising the research project is). A portion of this goes to the creator of the contract, the rest goes to a collective pool which pays token holders financial incentives. ABCs are an iteration of an earlier concept called “token bonding curves,” ABC’s are better set up to avoid rug pulls/scams and protect crowd funders. Another primary way of monetisation is through grants, scientists can submit proposals to the platform’s governance DAO, which will distribute funds following an ecosystem vote.
3) Attribution: The nature of the Cardano blockchain will allow data contributions to be properly attributed to the originator, which will compliment licencing related to open source e.g. Creative Commons licence
Next steps/Plans for the funding
I’m currently putting together a development plan with a team of developers. I’m looking for co-founders and devs if any of you are interested, or knows someone who might be interested (technical and/or science background) 🙂
Plans for funding
The funding requested will purely go towards the development of the proposed platform on Cardano, the development of smart contracts and other functions (e.g. augmented bonding curve, auditing of smart contracts. DAO governance). The aim is to launch within the next 6 months.
Thank you for reading, I’d be happy to hear your thoughts (compliments and critique!) and answer any questions that you may have.

Requested funds in USD. Only use numbers! No symbols, letters, fractions. Payment will be in ada. 60000

Which of these definitions apply to you? Entrepreneur

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Tags

Crowdfunding/DAO opensource pharma

Goal: $60,000.00
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