Meet GENEXI: The Future of Biotech and Blockchain Technology
| Updated by Maria Konash · 6 min read
The GENEXI ecosystem works to bring biotechnology to the new level, holding tremendous promises for medicine, environment and agriculture.
Biotechnology is considered to be one of the major technologies that is believed to empower world development in terms of economic growth, environmental protection and public health. Modern biotechnology plays a crucial role both in the elucidation of the molecular causes of disease and in the development of new diagnostic methods and better targeted drugs.
These evolutions have led to the birth of a new economic sector, the biotech industry, associated mostly with start-up projects. Today’s product-minded start-ups are focused on identifying ways to speed up innovations, showcasing current programs and research results, including work in synthetic biology, gene editing, personalized medicine, infectious disease management, and neurotechnology. International cooperation and assistance remain crucial for the success of biotechnology.
Being quite a young sphere, Biotech still has plenty of room to advance. According to Grand View Research, Inc., the biotech sector registered a total market value of US $369.62 billion; by 2025 that figure is supposed to double and cross $727.1 billion.
What is Biotechnology So Interesting For?
It’s a matter of economic demand. Almost 50% of the market is occupied by “red” biotechnology, which includes biomedicine and pharmaceutical development. Environmental pollution, fast pace of life, stress, and the aging population keep raising the demand for high-quality, state-of-the-art pharmaceutical products and innovative medicine.
Some of the more promising fields include treatments for cardiovascular disease and cancer, Alzheimer’s, hepatitis B, and diabetes; developing next-generation vaccines and biopharmaceutical drugs; increasing life expectancy and its quality; as well as regenerative, personalized, and predictive medicine.
Industrial companies are also interested in the development of biotechnologies. There is currently a growing trend for environmental responsibility in business: companies are trying to optimize their use of resources and implement waste reduction and recycling practices, thereby diminishing their load on the environment.
Currently there is plenty of research done into alternative fuels and possible ways of switching the energy and chemical industries over to renewable raw materials. Biotechnology developments in environmentally-sustainable agriculture are helping solve resource shortages resulting from population growth in countries like the US, China, and India.
Technology Joins Biology
Biotech initially came into being at the intersection of two fields: biology and technology. Now we can observe a new development pattern in which projects bring together several innovative technologies at once.
This is a very promising approach: the reliability and transparency of blockchain, the capacity to process huge volumes of big data, the impartiality and speed of artificial intelligence, as well as the ability to attract both large and small investment, will help move biotechnology to a completely new level.
In September 2017, a serial entrepreneur Alexey Zhelyaskov founded GENEXI Biotech Accelerator, which consists of a Platform and a Foundation. The project’s primary purpose was to seek out and provide grant support to cutting-edge biotech projects and to reward innovative research scientists, who have dedicated themselves to an alternative industry different from the conventional life-science paths.
GENEXI combines the professional expertise and practical experience in the industry to create a thriving ecosystem for the biotech start-ups and pharmaceutical companies operating at various levels within an industry’s supply chain from all corners of the globe.
The platform offers an innovative solution for the e-commerce market, which will bring biotech producers, distributors, retailers and end-consumers together, facilitating cross-industry operations within the whole ecosystem.
Using GENEXI platform, biotech producers can focus on expanding sales of their existing products while significantly cutting the production and distribution costs by creating mutually beneficial partnerships with distributors through multiple channels of interaction.
The first project GENEXI developed was the skin regeneration system Restet, based on bacteriorhodopsin breakdown technology. According to GENEXI’s management, the current docket includes treatments for cancer, Alzheimer’s, and cardiovascular diseases.
“Traditional medicine has played out its role. Biotech is currently the most progressive field, both in general and in medicine in particular. GENEXI mission is to lengthen patients’ active lives by applying cutting-edge, clinically proven products. We will soon be treating systematic diseases that require us to alter the genome, address DNA-level defects, reorder amino acids… That is our future,” comments GENEXI’s medical advisor, Alexander Novoselov.
According to data from GENEXI analysts, 2017 was an outstanding year for investments in medicine and biotechnology. Total revenue in medical technologies is expected to rise 5.18% from 2017 to 2018. Clinical analysis in medical visualization has raked in 29 billion dollars in profit in 2017.
According to forecasts, in 2018 revenue in that sector will increase by 4.42%. In laboratory diagnostics, revenue increased 6.37% from 2017 to 2018, while in healthcare IT the increase was 9.99%. 2017 was a record year for biotech in terms of venture capital investments.
Overall, the biotech startups raised a record $11.5 billion in 2017, topping it with an extra of $2.5 in Q1 2018 with nearly US $4.5 billion coming from traditional VC. That is a 109% up in comparison to 2016, and we expect the sector to reach a stable annual growth rate of around 4.9%. The biotech market is currently dominated by the US, Canada, Japan, and EU countries.
Analysts note that a huge number of biotech products will be coming into the medical devices market in the next few years. Biotechnology can be used in almost any field within clinical practice: creating degradable implants for surgery, osteosynthesis devices, prosthetics for major and minor joints and blood vessels; building matrices for growing smooth muscle tissue, replacing skin tissue, and regenerating nerve tissue; engineering heart tissue, membranes, adhesion barriers, and wound-healing materials, as well as hydrogels for cosmetic surgeries, and other products. Biopharmacology is actively applying the results of the latest research into discovering new genes, allowing for the creation of new, non-toxic drugs.
“Biotechnology is in demand, and unlike other fields, it is less susceptible to the influence of unpredictable factors. This is a very promising area to invest in,” commented GENEXI’s marketing director, Vladimir Stark. “Our crowdfunding campaign is unique. Biotech startup projects would not be able to achieve such reach by using traditional marketing and PR,” he adds.
GENEXI assembled an impressive Advisory Board and Core Team, which includes professional experts in biomedicine, digital health, life sciences, pharmaceuticals, downstream chemical processing, agriculture and bio services among others.
From May 1 to July 31, 2018, the project is raising capital by means of crowdfunding. The investors are eligible for bonuses. The period before May 31 will be the most beneficial for buying tokens: in this case, the bonus will be 20%, from June 1 to June 14 – 17%, from June 15 to June 28 – 9%, from June 29 to July 12 5%, and 2% until the end of the initial coin offering. In total during crowdfunding GENEXI plans to collect from 20 to 70 million dollars.
60% of funds will be allocated to the grant program, the rest – to the development, testing and launching of infrastructure system. Upon reaching a hardcap of 70 million dollars, GENEXI will allocate 3 grants for a total of 100,000 dollars on simplified terms to biotech labs and companies that will have expressed the willingness to become GENEXI Biotech Accelerator partners before the end of crowdfunding.
Being a successful graduate of Belarusian State Economic University (BSEU), Maria has acquired competencies in economic and social studies. Given Maria’s previous research working experience, and desire to explore what's really shaping the future, the main research focus is placed on FinTech and Blockchain Technology.