NATO’s VC fund backs biotech startup for first time

The NATO Innovation Fund (NIF) has made its first investment in a biotechnology startup. 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. The system is capable of defending against biological warfare. 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,”…

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