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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
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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
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NATO's venture capital arm makes its first investment in biotechnology, backing Portal Biotech's AI-driven pathogen detection technology to enhance defenses against biological warfare.
The NATO Innovation Fund has made a significant move into the biotechnology sector, co-leading a $35 million Series A funding round for Portal Biotech, a UK-based startup
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. This investment marks the fund's first venture into biotech and underscores NATO's commitment to enhancing its defenses against biological threats.
Source: The Next Web
Portal Biotech has developed an innovative platform that utilizes AI-backed technology and biological sensors capable of detecting pathogens at the single-molecule level
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. The company's portable equipment offers several key advantages:CEO Andy Heron emphasized the versatility of their technology, stating, "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"
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.The NATO Innovation Fund, established in 2022 following Russia's invasion of Ukraine, plans to invest over $1 billion in technologies to bolster NATO's defenses
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. Ana Bernardo-Gancedo, senior associate at the fund, highlighted the critical nature of Portal Biotech's capabilities for biosecurity, defense, and security2
.While the primary focus is on countering biological threats, Portal Biotech's technology has potential applications beyond defense:
The company has already launched three product lines and secured over 50 commercial partnerships
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Portal Biotech's innovative approach has attracted attention from various quarters:
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The investment in Portal Biotech reflects growing concerns over biological threats, particularly in light of the COVID-19 pandemic
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. By supporting the development of rapid, field-deployable diagnostic technologies, NATO aims to strengthen its ability to detect, monitor, and counter potential biological warfare agents.This move also highlights the increasing intersection of artificial intelligence, biotechnology, and national security. As these fields continue to evolve, we can expect to see more investments and innovations aimed at addressing complex global security challenges.
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