Portal Biotechnologies has successfully secured $9 million in an oversubscribed financing round aimed at enhancing its cell engineering and drug discovery platform.
The funding, led by NFX and supported by existing investors like IA Ventures and Pear VC, will facilitate the commercial scaling of Portal's innovative platform. This technology addresses a critical challenge in biology: the efficient delivery of complex molecules into cells without compromising their function. Portal's mechanoporation method allows for the scalable introduction of RNA, gene editors, and other molecules into various cell types.
With over 100 customers, including major pharmaceutical companies and academic institutions, Portal's platform has been recognized for its applications in diverse areas, such as drug screening and target engagement assays. Notably, collaborations with organizations like Merck and Microsoft are underway to generate training data for AI and map immune responses at scale.
In addition to drug discovery, Portal is expanding its efforts in cell therapy. The company has received an extension of its initial contract from DARPA to develop a portable device for rapid cell therapy production. This initiative underscores Portal's commitment to integrating high-throughput robotics and GMP manufacturing systems, paving the way for future innovations in point-of-care cell therapies.
The successful funding round highlights Portal's potential to revolutionize drug discovery and cell engineering, positioning it as a key player in the biotech landscape. As the company continues to grow, its collaborations and technological advancements are likely to unlock new possibilities in life sciences.