- Rapid platform adoption with over 50 biopharma and academic partners to date, including 7 of the top 10 pharmaceutical companies
- Oversubscribed $7M financing proceeds, coupled with revenue, to drive continued growth and launch of next generation products
- Anil Narasimha, Ph.D. joins as Chief Commercial Officer
CAMBRIDGE, Mass.--(BUSINESS WIRE)--#cellengineering--Today, Portal Biotechnologies, Inc. (“Portal”), a cell engineering platform company, announced an oversubscribed $7M seed round led by IA Ventures with participation from Pear VC, Undeterred Ventures, Page One VC, IKJ Capital and other current investors.
Portal is implementing a simplified approach to intracellular delivery, focused on enabling novel cell engineering and analytical capabilities. The initial product suite for research and clinical scales are based on next generation mechanical delivery technology capable of delivering many different types of cargo into a broad range of cells. This simple approach has been shown to enable delivery of a variety of molecules into cells, including impermeable small molecules, polypeptides, antibodies, RNA and gene editing complexes, both individually and simultaneously, for multiplexed cell function modification.
Since emerging from stealth a year ago, Portal has accumulated over 50 biopharma and academic partners leveraging the platform for applications ranging from novel drug screening assays to engineering cell therapies with circular RNA. Portal’s customer base includes 7 of the top 10 pharmaceutical companies, is a member of the Bayer Co.Lab in Cambridge, and affiliated with the Roche Accelerator in Shanghai. Under the ‘Powered by Portal’ model, the company is also integrating its single-use cartridges with high throughput robotics manufacturers and clinical equipment providers.
“The rapid adoption of Portal’s platform has been a very exciting experience. I am deeply grateful to our investors and early adopters for their faith in us at these early stages as we build on our past experiences at MIT and SQZ to democratize access to this potentially transformative technology. As a scientist, I have loved the creativity of our partners in deploying Portal’s unique capabilities in new ways. As a former cancer patient, I can’t wait to see what novel therapeutics we may enable!” said Armon Sharei, Ph.D., Founder and CEO of Portal.
To further accelerate Portal’s commercial activities, while maintaining a commitment to enabling novel science and patient impact, Anil Narasimha, Ph.D. joined as Chief Commercial Officer. Dr. Narasimha was most recently a co-founder and CEO of Mekonos where he gained a deep understanding of the ex-vivo drug delivery space. Paired with Portal’s CEO, Armon Sharei, Ph.D, and COO, Alec Barclay, the company is well positioned to continue scaling its partnering activities and platform development to enable novel drug discovery and cell therapy capabilities across disease areas.
“I am extremely excited to join the Portal team,” said Anil Narasimha. “Delivery is a huge bottleneck for a variety of different applications, and Portal has a product that can solve these issues in a simple, fast, and efficient manner.”
About Portal Biotechnologies:
Portal is a cell engineering platform company focused on enabling next generation cell engineering and analytics across research and clinical applications. The company is implementing a simplified approach to intracellular delivery, focused on accelerating advances enabled by the new generation of RNA, gene editing, and molecular design technologies. Portal’s initial product suite is based on a proprietary mechanical delivery system capable of delivering many different types of cargo to a broad range of cell types. The process relies on transient perturbation of a cell’s membrane as it transits through microscopic holes in a thin, specially designed, silicon surface. The technology’s ability to be used stand-alone or as an integrated component of third-party systems provides a significant opportunity to broadly impact the fields of biological research and cellular therapeutics. For more information, please visit https://portal.bio/.
About IA Ventures:
IA Ventures is an early stage venture capital firm investing in software and frontier technology companies. IA’s all-partner team works directly with founders from seed to IPO. Since its founding in 2010, IA has backed more than 100 companies including Datadog, The Trade Desk, Wise, DigitalOcean, and Komodo Health.
Contacts
Portal Biotechnologies
Shirley Mao
shirley@portal.bio
