SAN DIEGO, CA, August 26, 2026 (EZ Newswire) — Faro AI, Inc. today announced it has raised $37.3 million in Series B financing. The round was co-led by Merck Global Health Innovation Fund and S32, with participation from all existing investors, including General Catalyst, Northpond Ventures, Polaris Partners, PTX Capital, and Zetta, and new investors, including Ankona Capital.
The financing will fund Faro’s next stage of growth as pharmaceutical and biotechnology companies increasingly look to AI agents to automate complex workflows across clinical development. Faro will use the proceeds to expand its agentic AI capabilities and accelerate its work with customers deploying AI agents across their development organizations, helping teams improve the quality and efficiency of the processes required to move medicines from first-in-human studies through approval.
Clinical development is built on a highly interconnected set of scientific, medical, regulatory, and operational decisions. Automating these processes requires more than applying large language models to the documents that describe them. AI systems need a structured understanding of the concepts, relationships, constraints, and intent that drive how clinical studies are designed and executed.
Faro has built proprietary clinical development data models that translate these complex and interconnected concepts into structured, machine-readable intent. This foundation allows AI agents to reason across clinical development processes and automate workflows while maintaining the context and oversight required by development teams. Protocols and other clinical documents can be generated from this foundation, but documents represent only one of the many outputs and workflows the underlying models can support.
Faro’s platform is now used by six of the world’s ten largest pharmaceutical companies, giving the company experience modeling clinical development programs across a broad range of therapeutic areas, study designs, and development workflows.
“By saving time and improving quality, agentic AI has the potential to transform the way the biopharmaceutical industry conducts clinical development,” said Mike Morgan, Principal at Merck Global Health Innovation Fund. “Faro has built a foundational platform that creates an important opportunity to apply AI reliably to increasingly complex workflows across the clinical development continuum.”
“This financing gives us the resources to accelerate what our customers are already asking us to do,” said Scott Chetham, co-founder and CEO of Faro. “Clinical development involves some of the most complex and interconnected workflows in biopharma. Our customers want to use AI agents not simply to generate content, but to understand development intent, reason across these processes, and automate more of the work required to move a program forward. Faro’s ontology and data models give those agents the foundation they need to do that reliably.”
Chetham continued, “We started by creating a structured model of the clinical trial because the protocol sits at the center of so many downstream development activities. As that foundation has grown, so has the opportunity. This round allows us to accelerate the development of agents that can operate across increasingly complex clinical development workflows and, over time, extend that foundation into other areas of biopharma.”
About Faro AI
Faro provides the structured data and AI infrastructure for modern clinical development. Its proprietary ontology and data models translate complex scientific, medical, regulatory, and operational concepts into structured intent that software and AI agents can reason over and act upon.
Used by six of the world’s ten largest pharmaceutical companies, Faro enables development teams to design and operationalize clinical studies, generate clinical documents, identify risks and inconsistencies, and automate increasingly complex workflows across the development lifecycle. By giving AI systems a structured understanding of clinical development rather than relying on documents alone, Faro helps pharmaceutical and biotechnology organizations improve quality, reduce rework, and move development programs forward more efficiently.
For more information, visit faro.ai.
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SOURCE: Faro AI
