SILO Pharma Invests in ResearchCoin, Exploring Blockchain's Role in Biotech
SILO Pharma, a biopharmaceutical and cryptocurrency company, has invested in ResearchCoin (RSC), the native token of ResearchHub. This move aligns with SILO's strategy to tap into long-term value from emerging multi-chain opportunities in the decentralized science (DeSci) movement.
ResearchHub, co-founded by Brian Armstrong, CEO of Coinbase, in early 2019, is a decentralized science platform that aims to modernize scientific research and collaboration using blockchain technologies. RSC tokens, purchased by SILO Pharma, reward and encourage sharing, reviewing, and curating scientific knowledge on ResearchHub.
SILO Pharma, Inc., a diversified developmental-stage company, focuses on therapeutic areas such as stress-induced psychiatric disorders, chronic pain, and CNS diseases. Its portfolio includes SPC-15 for PTSD, SP-26 for fibromyalgia and chronic pain, and preclinical assets targeting Alzheimer's disease and multiple sclerosis. The company conducts research in collaboration with leading universities and laboratories. By investing in RSC, SILO Pharma seeks to capture potential profit opportunities years before traditional biotech exits, a strategy known as tokenizing research funding and intellectual property in DeSci.
SILO Pharma's purchase of RSC tokens signals its commitment to exploring the intersection of biopharmaceuticals and blockchain technologies. This strategic investment in ResearchHub's native token could open new avenues for research funding and collaboration, ultimately driving innovation in both the biotech and DeSci sectors.
Read also:
- MRI Scans in Epilepsy Diagnosis: Function and Revealed Findings
- Hematology specialist and anemia treatment: The role of a hematologist in managing anemia conditions
- Enhancing the framework or setup for efficient operation and growth
- Hydroelectric Power Generation Industry Forecasted to Expand to USD 413.3 Billion by 2034, Projected Growth Rate of 5.8% Compound Annual Growth Rate (CAGR)
