NATO Innovation Fund Invests in AI-Powered Biotech Startup to Counter Biological Threats

NATO fund backs biotech startup in push to counter biological threats

STOCKHOLM, June 30 (Reuters) - The NATO Innovation Fund has made its first investment in a biotechnology company, it said on Monday, seeking to enhance defences against biological threats The fund is co-leading a $35 million fundraising round for Portal Biotech, which uses protein sequencing to detect engineered threats and defend against biological warfare. UK-based Portal Biotech's capability is essential for biosecurity defence and security, said Ana Bernardo-Gancedo, senior associate at NATO Innovation Fund. "We believe that it is absolutely imperative that we are able to detect, monitor and create countermeasures," she said. The fund, created in 2022 after the Russian invasion of Ukraine, plans to invest more than $1 billion in technologies that would enhance NATO's defences. Portal Biotech uses an AI-backed technology with biological sensors that can work at the single molecule level on-site, giving results within hours. "It's for everything from measuring diseases to better pandemic prevention ... you can take this out of large labs with long turnaround times and into the field," CEO Andy Heron told Reuters. Heron said the company's instruments can detect any pathogen and can be used for continuous monitoring of anything from a field to water supply. "It allows you not just to detect what you did know was out there, but it allows you to detect what you didn't know," he said. Beyond biosecurity, Portal Biotech expects its portable equipment to aid in drug discovery and precision medicine. The company's investors include Earlybird Venture Capital, Science Creates VC, Pillar VC, 8VC, We VC and British Business Bank. Reporting by Supantha Mukherjee in Stockholm Editing by David Goodman Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Climate & EnergyFuelClean Energy Supantha Mukherjee Thomson Reuters Supantha leads the European Technology and Telecoms coverage, with a special focus on emerging technologies such as AI and 5G. He has been a journalist for about 18 years. He joined Reuters in 2006 and has covered a variety of beats ranging from financial sector to technology. He is based in Stockholm, Sweden.

NATO's VC fund backs biotech startup for first time

The alliance is exploring ways to combat biological warfare The NATO Innovation Fund (NIF) has made its first investment in a biotechnology company. The alliance's VC arm announced today that it's co-leading a $35mn Series A round for UK-based Portal Biotech as it seeks to strengthen NATO's defences against biological warfare. Portal develops portable, AI-powered diagnostic devices capable of detecting pathogens at the single-molecule level. Unlike traditional lab-based systems, its platform is designed for field deployment. It aims to offer rapid, on-site identification of biological threats. Ana Bernardo-Gancedo, senior associate at NATO Innovation Fund, told Reuters that this capability is crucial for defence and security. "We believe it is absolutely imperative that we are able to detect, monitor, and create countermeasures," she said. Set up in 2022 in response to Russia's full-scale invasion of Ukraine, the NATO Innovation Fund has over $1bn to invest in dual-use technologies, including AI, space, and energy resilience. Its move into biotechnology reflects growing concerns over the security implications of synthetic biology and potential biowarfare. These worries have intensified since the COVID-19 pandemic exposed how vulnerable societies are to biological threats, whether deliberate or not. Portal's CEO, Andy Heron, said the company's sensors could be used for continuous environmental monitoring, spanning from open fields to municipal water supplies. "It allows you not just to detect what you did know was out there, but it allows you to detect what you didn't know," Heron told Reuters. The investment follows an $8mn contract awarded to Portal last week by the US Defence Advanced Research Projects Agency (DARPA). The deal will fund the development of a portable device to load therapeutic cargo into red blood cells, enabling field-based, personalised cell therapies in remote environments. Founded in 2023, Portal has launched three product lines and signed over 50 commercial partnerships, the company said. Beyond defence applications, the dual-use tech could also aid in drug discovery and medicine by enabling scientists to quickly identify and characterise proteins. NIF led the Series A round alongside Berlin-based Earlybird Venture Capital. The round 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.