Portal Biotech, a player in protein identification and sequencing using nanopores, receives 30 million euros in series A funding. The company plans to use the funding for its commercial rollout and expanding its team.
Portal Biotech is a spin-off from the University of Groningen. It builds on the ideas of Prof Giovanni Maglia of the Groningen Biomolecular Sciences and Biotechnology Institute (GBB) of the Faculty of Science and Engineering. The team behind Portal Biotech includes Tim Massingham, Andrew Heron, Giovanni Maglia and Selly Saini.
Perform high-precision protein sequencing and analysis
Portal Biotech's technology enables researchers to perform high-precision protein sequencing and analysis on-site. It thereby provides a solution to a long-standing challenge in the proteomics market, which is worth 40 billion euros globally. In doing so, the platform delivers results 10 to 100 times faster than existing methods.
The technology enables research into undamaged proteins at the molecular level. It also provides highly accurate insights essential for the discovery of new drugs, diagnostics and precision medicine. "DNA is the blueprint for life, but proteins perform the essential functions in the cell," Portal Biotech writes on its website.
Unravelling the workings of biology
"Understanding the proteome, the complex collection of protein variants in our cells, is crucial for unravelling how biology works and will allow us to develop a better understanding of human health and disease."
Portal Biotech's technology uses so-called nanopores to detect and analyse single molecules with high accuracy. Nanopores are sophisticated biosensors that capture and characterise protein or metabolite molecules. The molecules move through the nanopores, creating unique electrical signals that encode atomic-level differences. Portal Biotech deploys machine learning algorithms to decode these electrical signals and determine the identity and detailed sequence information of the molecule.
Better diagnostics and more effective treatments
"Our system is designed to be used on-site and provide researchers with unique insights, not only by identifying proteins, but also by accurately showing where key changes occur. By making high-resolution protein analysis faster and more insightful, we are helping Research & Development (R&D) teams pave the way for better diagnostics and more effective treatments."
Several parties are putting money into Portal Biotech during the investment round. The funding round was led by NATO Innovation Fund and Earlybird Venture Capital. In addition, SCVC, Pillar VC, 8VC, Amino Collective, Outsized, We Venture Capital, British Business Bank and WS Investment Company are also investing in the biotech company.
Competing on the world biotechnology stage
Founder Prof Giovanni Maglia stresses the importance of this milestone: "I am extremely proud of what we have achieved in this collaboration between the RUG and Portal Biotech. For our students and researchers in Groningen, the success of Portal Biotech shows that breakthrough innovations don't just belong in scientific journals-they can also spawn entire companies, reshape industries and impact lives of people who need that technology to progress. This funding milestone proves that European research excellence and the exceptional talent in our Groningen ecosystem are in an excellent position to compete on the world biotechnology stage."
The new funding will accelerate Portal Biotech's commercial rollout and expand its early-adopter programme with key partners from the pharmaceutical and biotech sectors. Portal Biotech will also further expand its R&D, engineering and data science divisions.
