Oncotelic Therapeutics, Inc, with a planned IPO of its JV this year, announced the launch of Pet2DAO Inc. (Pet2Dao), a wholly owned subsidiary of Oncotelic, and its associated token PDAO. Pet2DAO is a DAO technology company, integrating the strong governance of traditional corporations with the innovative DAO architecture. The company look to engage stakeholders, to build value through the DAO, while maintaining the rigor of traditional corporations, including governance, compliance, and accountability through a team of veterans in public companies with innovators in AI, blockchain and Web3.

The first planned use case of PDAO is animal health and will house the previously disclosed animal health division of Oncotelic. The company plan to distribute PDAO tokens to eligible Oncotelic shareholders to be members of Pet2DAO in the near future. In order to qualify, the shareholder must have owned minimum 2000 shares of OTLC as of 04/01/2023.

Eligible shareholders shall be entitled to receive 1 token for every 2,000 OTLC shares on that date. No fractional token will be issued.