iLoF raises $1 million from Microsoft M12 and Mayfield.

iLoF, an Oxford, UK and Porto, Portugal-based developer of an intelligent platform for precise, patient-centric drug development, announced that it has secured $1 million in investment.

The money was raised from Microsoft’s Venture Fund, M12 and Mayfield Fund.

iLoF (Intelligent Lab on Fiber), founded in 2019 following the team’s entry into the EIT Health open innovation Wild Card programme, the company aims to build a business around a solution aiming to improve the process of clinical trial screening and speed up drug discovery in diseases with little, or no, treatment options.

The company, led by CEO Luis Valente, has a cloud-based library of optical fingerprints, powered by photonics and AI, and which provides non-invasive tracking, screening and stratification for drug discovery, adapted to each clinical trial needs.

Upon founding in 2019, iLoF raised €2m in investment in addition to a mentoring package was provided to develop the company and solution