Covington Advises a UK Deep Tech Start-Up on Series A Financing Round Led by the NATO Innovation Fund

LONDON—Covington advised a UK deep tech start-up Portal Biotech Limited on its $35 million Series A fundraise.

Portal Biotech’s AI-backed protein sequencing technology will significantly impact drug discovery, precision medicine, and global biosecurity.

The round was led by the NATO Innovation Fund, a venture capital fund backed by 24 NATO allies, and Earlybird Venture Capital.

This is the first time NATO Innovation Fund has made an investment in a biotechnology company, seeking to enhance defences against biological threats.

The Covington team was led by Ben Land-Maycock and included Hannah Berry and Ross Evans (FDI).