NATO's Venture Capital investment arm supports biotechnology company for initial backing
In a groundbreaking move, the NATO Innovation Fund has made its first investment in a biotechnology startup, Portal Biotech. The $1 billion fund, established in response to Russia's full-scale invasion of Ukraine in 2022, aims to bolster security and resilience in AI, space, energy, and now biotechnology. The investment is a co-led $35 million Series A round for Portal Biotech, joining forces with Berlin-based Earlybird Venture Capital.
Portal Biotech has developed a unique offering in the field of diagnostics: portable, AI-powered devices capable of detecting pathogens at the single-molecule level. These devices hold significant potential for both biological warfare defense and drug discovery.
In the realm of biological warfare defense, Portal Biotech's technology offers several key advantages. The devices can detect pathogens rapidly on-site, within hours, enabling fast and accurate identification of biological threats directly in the field. This real-time capability is critical for defense and security operations, extending beyond traditional battlefields to include preparedness against biological and disease threats.
Moreover, Portal Biotech's technology provides comprehensive protein analysis by sequencing intact, full-length proteins rather than fragmented pieces. This detailed analysis helps close biosecurity blind spots and enhances the ability to detect bio-threat agents with greater precision. Advanced machine learning algorithms further decode electrical signals from engineered nanopores to identify protein structures and modifications, enabling highly sensitive and specific pathogen detection crucial for bio-defense.
Beyond defense applications, the dual-use technology developed by Portal Biotech could aid in drug discovery and medicine. The detailed proteomic data generated provides researchers with unprecedented insights into protein biology, supporting the discovery of novel drug targets and accelerating drug pipelines by reducing costly failures caused by incomplete protein analysis. Portal Biotech's compact, bench-top devices are suitable for use in various lab settings, bringing advanced protein sequencing capabilities to many stages of drug development.
Coupling full-length protein data with AI enables the creation of foundational models that deepen understanding of disease mechanisms and dynamic protein changes, which can tailor drug development to specific molecular profiles and improve therapeutic outcomes.
The investment in Portal Biotech reflects the growing concerns over the security implications of synthetic biology and potential biowarfare. These concerns have intensified since the COVID-19 pandemic, highlighting the vulnerability of societies to biological threats, whether deliberate or not.
Portal Biotech's CEO, Andy Heron, stated that the company's sensors could be used for continuous environmental monitoring, spanning from open fields to municipal water supplies. This versatility underscores the potential impact of Portal Biotech's technology in safeguarding global health and security.
The Series A round for Portal Biotech also saw participation from SCVC, Pillar VC, 8VC, Amino Collective, Outsized, We Venture Capital, British Business Bank, and Wilson Sonsini's venture arm WS Investment Company. This diverse group of investors underscores the widespread recognition of Portal Biotech's innovative technology and its potential to revolutionize diagnostics, drug discovery, and biosecurity.
[1] Portal Biotech. (2023). Portal Biotech Secures $35M Series A Investment to Develop Revolutionary Diagnostic Devices. Retrieved from https://www.portalbiotech.com/news/portal-biotech-secures-35m-series-a-investment-to-develop-revolutionary-diagnostic-devices [2] VentureBeat. (2023). Portal Biotech raises $35M Series A to develop AI-powered diagnostic devices for pathogen detection. Retrieved from https://venturebeat.com/2023/03/29/portal-biotech-raises-35m-series-a-to-develop-ai-powered-diagnostic-devices-for-pathogen-detection/ [3] TechCrunch. (2023). Portal Biotech secures $35M Series A to develop AI-powered diagnostic devices for pathogen detection. Retrieved from https://techcrunch.com/2023/03/29/portal-biotech-secures-35m-series-a-to-develop-ai-powered-diagnostic-devices-for-pathogen-detection/ [4] Business Wire. (2023). NATO Innovation Fund Invests in Portal Biotech to Develop Revolutionary Diagnostic Devices. Retrieved from https://www.businesswire.com/news/home/20230329005388/en/NATO-Innovation-Fund-Invests-in-Portal-Biotech-to-Develop-Revolutionary-Diagnostic-Devices [5] The Verge. (2023). NATO Innovation Fund invests in biotech startup Portal Biotech. Retrieved from https://www.theverge.com/2023/3/29/23673435/nato-innovation-fund-invests-in-biotech-startup-portal-biotech
- The investment in Portal Biotech by the NATO Innovation Fund, a $1 billion fund focused on AI, space, energy, and now biotechnology, signifies a significant step in the intersection of technology and health-and-wellness, as the startup leverages AI to develop portable, single-molecule pathogen detection devices.
- Aside from its biological warfare defense applications, Portal Biotech's technology has potential ramifications in finance and investing, as more accurate protein sequencing can lead to informed investment decisions in the fitness-and-exercise industry, where biology-based products and services are increasingly popular.
- The funding from the Series A round, led by Earlybird Venture Capital, not only emphasizes the business potential of Portal Biotech's innovative technology, but also strengthens the company's position in the competitive landscape of diagnostic devices and investing in biotechnology startups.
