NATO VC Fund Invests in Biotech Startup for First Time
▼ Summary
– The NATO Innovation Fund (NIF) co-led a $35mn Series A investment in UK-based Portal Biotech to enhance defenses against biological warfare.
– Portal Biotech develops portable, AI-powered diagnostic devices for rapid, on-site detection of pathogens at the single-molecule level.
– The NATO Innovation Fund, established in 2022 with over $1bn, focuses on dual-use technologies like AI and biotech amid rising biowarfare concerns.
– Portal’s CEO highlighted the tech’s potential for continuous environmental monitoring, including detecting unknown biological threats.
– Portal recently secured an $8mn DARPA contract to develop portable devices for field-based, personalized cell therapies in remote areas.
The NATO Innovation Fund has marked a significant milestone by making its inaugural investment in biotechnology, backing UK-based Portal Biotech with a $35 million Series A funding round. This strategic move underscores NATO’s commitment to bolstering defenses against biological threats through cutting-edge technology.
Portal Biotech specializes in AI-driven portable diagnostic devices capable of identifying pathogens at an unprecedented single-molecule level. Unlike conventional lab equipment, the company’s platform is engineered for real-world deployment, offering rapid, on-site detection of biological hazards. This innovation could prove invaluable for military and civilian applications alike, particularly in high-risk environments.
Ana Bernardo-Gancedo, a senior associate at the NATO Innovation Fund, emphasized the urgency of such advancements. “Early detection and countermeasures are critical in safeguarding against biological threats,” she noted. The fund, established in 2022 with a $1 billion war chest, focuses on dual-use technologies, those with both military and commercial potential, spanning AI, space, and energy resilience.
The decision to invest in biotechnology reflects heightened global anxieties surrounding synthetic biology and biowarfare. The COVID-19 pandemic laid bare the vulnerabilities of modern societies to biological risks, whether natural or man-made. Portal’s technology addresses these concerns head-on, offering a proactive approach to threat identification.
Andy Heron, CEO of Portal Biotech, highlighted the versatility of the company’s sensors. “Our systems enable continuous monitoring across diverse environments, from rural landscapes to urban water supplies,” he explained. The platform doesn’t just detect known threats, it uncovers unexpected ones, providing a critical edge in early warning systems.
This funding follows a recent $8 million contract from the US Defense Advanced Research Projects Agency (DARPA), aimed at developing a portable device for loading therapeutic agents into red blood cells. Such advancements could revolutionize field medicine, enabling personalized cell therapies in remote or austere settings.
Since its founding in 2023, Portal has rapidly expanded, launching three product lines and securing over 50 commercial partnerships. Beyond defense, its dual-use technology holds promise for pharmaceutical research, accelerating drug discovery by streamlining protein analysis.
The Series A round was co-led by Berlin’s Earlybird Venture Capital, with participation from prominent investors including SCVC, Pillar VC, 8VC, and the British Business Bank. This broad coalition of backers signals strong confidence in Portal’s potential to redefine biosecurity and healthcare innovation.
(Source: The Next Web)