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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

EB Research Partnership Receives $150,000 Donation from ELONGATE to Launch the #CryptoForCures Fund to Cure Epidermolysis Bullosa

May 17, 2021 GMT

NEW YORK, May 17, 2021 /PRNewswire/ -- EB Research Partnership, the largest global nonprofit funding research to discover treatments and cures for Epidermolysis Bullosa (EB), today announces a $150,000 donation from Elongate, a cryptocurrency token focused on charitable giving, as the inaugural gift for the nonprofit’s #CryptoForCures Fund, establishing Elongate as the Founding Member. Aiming to raise $1 million in cryptocurrency donations by the end of 2021, EBRP funds competitive research projects that study groundbreaking technologies such as gene editing, exon skipping, and stem cell therapies with the goal of curing EB by 2030. Cryptocurrency donations for #CryptoForCures can be made at www.ebresearch.org/cryptocurrency.

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EB affects approximately 500,000 people worldwide. Called “Butterfly Children” because their skin is as fragile as the wings of a butterfly, children with EB face severe pain, open external and internal wounds, and a grueling daily bandaging process. There is currently no treatment or cure for EB. However, EBRP’s model is helping to fast-track not only therapies for EB, but for 7,000 rare diseases that affect 400 million people worldwide.

EBRP employs a venture philanthropy model to create a sustainable philanthropic cycle; when making grants to research projects, the organization retains a financial interest in the work so when research is commercialized, the return on investment funds additional EB research until a cure is found. This potentially allows donations to grow to multiples of their original value. “As an organization that celebrates innovation, we are so grateful for this generous gift from Elongate as the Founding Member of the #CryptoForCures Fund to put speed into advancing breakthroughs for patients and families battling EB, in the process partnering to pioneer a model to impact the greater rare disease community,” says Michael Hund, CEO of EBRP.

As the largest global organization supporting EB research, EBRP has funded more than 90 research projects, directly impacting the clinical landscape. Since the organization’s founding, the number of clinical trials in EB has increased by 15 times, including four Phase III clinical trials, the final phase before the FDA considers approval of a new therapy.

“Elongate aims to leverage the power of cryptocurrency for the greater good. We are proud to support EB Research Partnership’s mission to discover treatments and cures for this devastating medical condition,” says Alexander Gambon, Chief Storytelling Officer at Elongate.

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About EB Research Partnership
Founded in 2010 by a dedicated group of parents and Jill and Eddie Vedder (Pearl Jam), EB Research Partnership (EBRP) is the largest global nonprofit dedicated to funding research aimed at treating and ultimately curing Epidermolysis Bullosa (EB), a group of devastating and life-threatening skin disorders that affect children from birth.

Working around the clock with offices in the US and Australia, EBRP utilizes an innovative venture philanthropy business model. When making a grant to a research project, they retain the added upside of generating a recurring revenue stream if the therapy or product is commercially successful, then use the return on investment to fund additional EB research until a cure is found.

To learn more, visit www.ebresearch.org

To donate cryptocurrency to #CryptoForCures, visit www.ebresearch.org/cryptocurrency

About Elongate
Founded in 2021, Elongate is a startup bringing the power of crypto to charity. Powered by the Elongate cryptocurrency token, a 10% fee on transactions both rewards the holders and donates significant sums to charity. Operating on a lean charity-first model, the organization has donated over $2 Million to worthy charitable causes in just the first 5 weeks. Blending internet culture and virality with a serious dedication to alleviate suffering, Elongate exposes charitable causes to a world of untapped capital, and the crypto audience to a world of good.

Media Contacts:
EB Research Partnership
Stephanie Ishoo, +1-646-844-0902
stephanie@ebresearch.org

Elongate
Alexander Gambon
Chief Storytelling Officer
alex@elongate.cc

View original content: http://www.prnewswire.com/news-releases/eb-research-partnership-receives-150-000-donation-from-elongate-to-launch-the-cryptoforcures-fund-to-cure-epidermolysis-bullosa-301292340.html

SOURCE EB Research Partnership