# Top 11 Biotech Startups in Portugal by Funding (2026)

> The 11 best-funded biotech startups in Portugal, ranked by total funding raised: $50M combined. With founding year, headquarters and each company's rounds.

Source: https://millionrounds.com/top-lists/biotech-startups-portugal (Millionrounds; every figure on the page links to its filing or article)

- 1 [**CarboCode** CarboCode is a biotechnology company founded in 2017, specializing in the development, production, and commercialization of human-identical glycosphingolipids (](https://millionrounds.com/company/carbocode) CarboCode is a biotechnology company founded in 2017, specializing in the development, production, and commercialization of human-identical glycosphingolipids (*Founded* 2017 Cantanhede, Portugal **$17M** last round Nov 2025
- 2 [**Tonic App** Tonic App is a mobile app that facilitates health content aggregation and medical team collaboration using productivity-focused tools.](https://millionrounds.com/company/tonic-app) Tonic App is a mobile app that facilitates health content aggregation and medical team collaboration using productivity-focused tools. *Founded* 2016 Porto, Portugal **$16M** last round Mar 2024
- 3 [**Ophiomics** Ophiomics is a precision medicine biotechnology and medtech company based in Lisbon, Portugal.](https://millionrounds.com/company/ophiomics) Ophiomics is a precision medicine biotechnology and medtech company based in Lisbon, Portugal. *Founded* 2015 Lisbon, Portugal **$6.5M** last round Jan 2023
- 4 [**Flow Eighteen38** Flow Eighteen38 is to facilitate and accelerate antibody projects by delivering purified proteins.](https://millionrounds.com/company/flow-eighteen38) Flow Eighteen38 is to facilitate and accelerate antibody projects by delivering purified proteins. *Founded* 2012 Porto, Portugal **$5.4M** last round Mar 2022
- 5 [**IMMUNETHEP** Immunethep is a biotech startup company that is developing broad coverage anti-bacterial immunotherapies](https://millionrounds.com/company/immunethep) Immunethep is a biotech startup company that is developing broad coverage anti-bacterial immunotherapies *Founded* 2013 Cantanhede, Portugal **$1.3M** last round Mar 2025
- 6 [**Criam** CRIAM, officially known as CRIAMKNOWLEDGE, S.A., is a Portuguese technology company focused on advanced Artificial Intelligence (AI), Deep Learning, and biotech](https://millionrounds.com/company/criam) CRIAM, officially known as CRIAMKNOWLEDGE, S.A., is a Portuguese technology company focused on advanced Artificial Intelligence (AI), Deep Learning, and biotech *Founded* 2016 Braga, Portugal **$1.1M** last round Nov 2021
- 7 [**Treat U** Development of targeted nanotechnology-based platforms](https://millionrounds.com/company/treat-u) Development of targeted nanotechnology-based platforms *Founded* 2010 Mealhada, Portugal **$1.0M** last round Jul 2013
- 8 [**Fetalix** Fetalix offers a regenerative fetal-inspired biomaterial aimed at treating Low Back Pain (LBP) through a minimally invasive procedure.](https://millionrounds.com/company/fetalix) Fetalix offers a regenerative fetal-inspired biomaterial aimed at treating Low Back Pain (LBP) through a minimally invasive procedure. *Founded* - Oporto, Portugal **$532K** last round Apr 2026
- 9 [**Thelial Technologies** Thelial Technologies engages in targeted carcinoma drug discovery and development.](https://millionrounds.com/company/thelial-technologies) Thelial Technologies engages in targeted carcinoma drug discovery and development. *Founded* 2009 Portugal **$477K** last round Dec 2010
- 10 [**Exogenus Therapeutics** Exogenus Therapeutics develops cellular based therapies applied to regenerative medicine for skin lesions treatment.](https://millionrounds.com/company/exogenus-therapeutics) Exogenus Therapeutics develops cellular based therapies applied to regenerative medicine for skin lesions treatment. *Founded* 2015 Cantanhede, Portugal **$113K** last round Apr 2026
- 11 [**LifeTag** LifeTag is a Portuguese technology-based startup that is focused on Research & Development of non-invasive technologies.](https://millionrounds.com/company/lifetag) LifeTag is a Portuguese technology-based startup that is focused on Research & Development of non-invasive technologies. *Founded* 2016 Portugal **$56K** last round Jul 2019

**Total funding** how the list is ranked

**15 November 2026** updated nightly

**Rounds we track** source: Millionrounds

Companies whose funding rounds we classed in this sector, ranked by the total they have raised in rounds we hold. Nobody pays to be on a list.

## Who backed them?

Open any company for its rounds and investors, or search the investors who back biotech startups in Portugal in the app, with filters, lists and exports.

[Find their investors](https://millionrounds.com/login?join=1&next=/app/investors)[All top lists](https://millionrounds.com/top-lists)

## More biotech lists

[See all](https://millionrounds.com/top-lists?t=Biotech)

[*IL* *NH* *CS* **Biotech startups in Europe** 1,665 companies · $22B](https://millionrounds.com/top-lists/biotech-startups-europe)[*GV* *IL* *RM* **Biotech startups that raised in 2026** 896 companies · $37B in 2026](https://millionrounds.com/top-lists/biotech-startups-raised-2026)[*IL* *CS* *ON* **Biotech startups in the United Kingdom** 588 companies · $15B](https://millionrounds.com/top-lists/biotech-startups-united-kingdom)[*GV* *RM* *M* **Biotech startups in the United States that raised in 2026** 498 companies · $32B in 2026](https://millionrounds.com/top-lists/biotech-startups-united-states-raised-2026)[*NH* *DT* *E* **Biotech startups founded in 2018** 368 companies · $14B](https://millionrounds.com/top-lists/biotech-startups-founded-2018)[*NR* *LL* *ST* **Biotech startups founded in 2020** 337 companies · $7.0B](https://millionrounds.com/top-lists/biotech-startups-founded-2020)[*E* *ET* *NA* **Biotech startups founded in 2019** 336 companies · $11B](https://millionrounds.com/top-lists/biotech-startups-founded-2019)[*IL* *RB* *VS* **Biotech startups founded in 2021** 275 companies · $12B](https://millionrounds.com/top-lists/biotech-startups-founded-2021)

## More lists for Portugal

[See all](https://millionrounds.com/top-lists?r=Portugal)

[*O* *PD* *U* **Startups in Portugal** 195 companies · $1.7B](https://millionrounds.com/top-lists/startups-portugal)[*U* *A* *BV* **AI startups in Portugal** 32 companies · $282M](https://millionrounds.com/top-lists/ai-startups-portugal)[*O* *U* *S* **IT Services startups in Portugal** 19 companies · $487M](https://millionrounds.com/top-lists/it-services-startups-portugal)[*C* *TA* *N* **Healthcare startups in Portugal** 12 companies · $65M](https://millionrounds.com/top-lists/healthcare-startups-portugal)[*E* *R* *T* **Web3 & Crypto startups in Portugal** 12 companies · $99M](https://millionrounds.com/top-lists/web3-startups-portugal)