PharosAI: How a VBI supported pivot is turning an academic idea into a £44M national cancer AI platform

With a focus on applying artificial intelligence (AI) to NHS and biobank cancer data, PharosAI is building a secure, AI-ready platform aimed at improving the speed, precision, and accessibility of cancer therapies and diagnostics.

Reflecting on the company’s growth, co-founder and CTO Gregory Verghese highlights VBI’s role as a key influence in shaping PharosAI’s direction and success.

Greg is quick to highlight the role that VBI played in helping PharosAI take shape - both in direction and in identity.

Entering the programme as Morph.ai, the team - sponsored by Cancer Research Horizons - was initially focused on developing AI tools for cancer diagnostics and computational pathology. But through VBI’s structured workshops, mentoring, and constructive feedback from experts and peers, a much larger opportunity came into focus: the real market gap wasn’t just in building AI models, it was in enabling others to do so.

VBI was a pivotal part of our journey—both in shaping PharosAI and in helping us realise we needed to pivot in the first place.

This insight shaped the foundation for PharosAI, a platform designed to provide access to high-quality, multimodal, cancer data and AI models. One of the most valuable aspects of the programme, Greg notes, was its emphasis on product-market fit. Through user interviews and hands-on support, the team was able to deeply understand the needs of pharma, biotech, and clinical AI developers, having a direct impact on their platform strategy.

VBI also gave the team at PharosAI the early tools to begin communicating their shift in direction with clarity and confidence. With guidance on refining their value proposition, sharpening their messaging, and building an investor-ready pitch deck, they were able to start articulating the scale of the problem and the value of their solution which helped them secure early funding.

The programme helped us interrogate our assumptions, speak to real users, and deeply understand the market. That process directly influenced our decision to build a platform instead of standalone models.

The mentoring was another standout benefit of the VBI programme for the team at PharosAI. With support from commercial experts, technical advisors, and health tech specialists, including contributions from Cancer Research Horizons, the team was able to test ideas, receive feedback, and shape strategies across business modelling, regulatory planning, and product development.

The mentoring on the programme was invaluable. We were able to test ideas with commercial experts, get critical feedback from technical advisors, and receive support on everything from business modelling to regulatory strategy.

Beyond the formal support, VBI also introduced the team to Scotland’s growing startup ecosystem, forming connections across sectors that remain vital today.

Greg says:

It played a central role in our pivot from Morph.ai to PharosAI and gave us the skills, mindset, and network to turn that pivot into a nationally recognised, high impact venture. 

After completing VBI in October 2023, PharosAI applied to the UK Government's Research Venture Catalyst, a pilot programme designed to stimulate the creation of novel research ventures and was one of 12 projects awarded £100,000 in seedcorn funding. This early capital allowed the team to refine its value proposition and investor deck, develop a business plan and a financial plan, and secure funding and commitments from partners.

In February this year, PharosAI was one of the final three projects to secure funding in stage 2 of the Research Venture Catalyst. They secured £18.9 million from DSIT, signalling strong confidence in both its mission and execution. This was matched by £24.7 million from industry, philanthropy, and third sector partners, bringing the total investment to over £44 million.

Today, PharosAI’s ecosystem includes strategic collaborators such as NHS England, UK Biobank, Microsoft, Paige AI, DAWN (the UK’s national supercomputing resource), and the Royal College of Pathologists.

To support this growth, the company has also since expanded its team, hiring a new co-founding Chief Operating Officer and actively recruiting across data science, biobanking, and engineering roles.

This combined £44 million investment is driving the creation of a secure, federated AI infrastructure that aims to accelerate innovation in cancer cancer drug discovery and diagnostics, positioning the UK as a global leader in cancer AI.

Our leadership team is intentionally diverse, combining academic, clinical, technical, and business expertise...Everyone brings something unique, and that's been key to delivering such an ambitious vision.

PharosAI is now entering into its next phase of development with the team preparing for the launch of its MVP platform and beginning early user testing with strategic partners.

But as the venture scales, so do its challenges.

Our biggest challenge now is balancing the needs of a diverse set of users—pharma, biotech, clinicians, researchers - all with unique expectations...We have to stay focused on delivering core value without losing sight of the long-term vision.

Foundational to PharosAI’s success is the collaboration between its four founding institutions: King's College London, Queen Mary University of London, Guy's and St Thomas' NHS Foundation Trust, and Barts Health NHS Trust.

From the outset, PharosAI has been built on a foundation of genuine collaboration...This alignment has created a shared sense of mission, a robust governance structure, and the ability to move quickly while maintaining trust.

For researchers considering taking leap into commercialisation and entrepreneurship, Greg offers a message rooted in encouragement and realism:

It’s natural to feel daunted...but commercialising your research doesn't mean leaving academia behind - it means finding a new way to create impact with the work you've already done, and new routes to delivering leading-edge science.

His biggest piece of advice? "Start before you feel ready."

PharosAI’s journey from a concept in VBI to a nationally recognised leader in Cancer AI is a powerful example of what can happen when vision meets action and innovation is driven by real-world impact.

VBI helped us evolve...and we’re just getting started.