London-based biotech startup Portal Biotech, which develops full-length, single-molecule protein sequencing technology, has raised a $35 million Series A round led by the NATO Innovation Fund and Earlybird.
- Launched in 2021 by Andrew Heron and Giovanni Maglia, Portal Biotech develops nanopore-based instruments for sequencing full-length proteins at the single-molecule level.
- The company’s technology uses engineered nanopores, tiny protein channels embedded in membranes, to detect and analyze individual protein molecules as they pass through.
- As a molecule moves through the nanopore, it disrupts an electric current in a sequence-specific way. These electrical signals are then decoded using machine learning algorithms to determine the protein’s identity, structure, and modifications.
- This approach enables complete, real-time analysis of intact proteins, unlike conventional techniques such as mass spectrometry, which require proteins to be broken into fragments. Portal’s instruments are bench-top devices designed for use in research, diagnostic, and biopharma labs.
Portal Biotech’s technology offers unprecedented capabilities in protein identification and characterisation, providing unmatched detail on protein structure and modifications at the single-molecule level—on accessible desktop instruments that bring this state-of-the-art characterisation to any lab," co-founder and CEO of Portal Biotech, Andy Heron, commented.
Details of the deal
- The $35 million Series A round was led by the NATO Innovation Fund and Earlybird Venture Capital, with significant participation from existing investors including SCVC, Pillar VC, 8VC, Amino Collective, and Outsized Ventures.
"The NATO Innovation Fund invested in Portal Biotech because its protein sequencing platform has the potential to unlock the next frontier of biological data, critical for biosecurity and healthcare resilience," claims Ana Bernardo-Gancedo, Senior Investment Associate at NATO Innovation Fund.
- New investors in the round included We Venture Capital, the British Business Bank, and WS Investment Company, the venture arm of Wilson Sonsini.
- Portal Biotech will use the $35 million to advance its commercial rollout by increasing R&D capabilities, growing its engineering and data science teams, and accelerating product launch.
- The funding will also support deeper partnerships with pharmaceutical and biotech firms, improve infrastructure for broader market access, and enhance applications in biosecurity for real-time proteome analysis.
