Faro AI Raises $37.3M for Agentic Clinical Development

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Faro AI has raised $37.3 million in Series B financing, co-led by the Merck Global Health Innovation Fund and S32.

Every existing investor took part, including General Catalyst, Northpond Ventures, Polaris Partners, PTX Capital and Zetta, and Ankona Capital came in as a new backer. The company is based in San Diego, California.

Faro builds structured data and AI infrastructure for clinical development, which is a less glamorous problem than drug discovery and arguably a more expensive one. Trials generate enormous quantities of scientific, medical, regulatory and operational information that lives in documents and spreadsheets rather than in any form software can reason about.

The company’s proprietary ontology and data models convert those concepts into structured intent, which is the part that matters for automation. Once the meaning is machine readable, development teams can design and operationalise studies, generate clinical documents, surface risks and inconsistencies, and hand progressively more complicated workflows to AI agents across the development lifecycle.

Adoption suggests the approach is landing. Six of the ten largest pharmaceutical companies in the world use its structured clinical development data models, and the customer base spans pharmaceutical and biotechnology organisations more broadly. Scott Chetham is co-founder and chief executive.

The new money expands the agentic capabilities and speeds up work with customers rolling out AI agents across their own development organisations.

Vendors selling into newly funded pharmaceutical and biotech companies can reach the right contacts through life science lead generation tied to recent rounds.