Terms of Service

1. Agreement with PhaseFolio, Inc.

These Terms of Service ("Terms") are an agreement between PhaseFolio, Inc., a Delaware corporation ("PhaseFolio," "we," "us," or "our"), and the person or organization using the services ("you" or "Customer"). They address our public websites, documentation, product interfaces, research materials, verification services, and supported API/MCP access, collectively the "Services."

If you use the Services for an organization, you represent that you have authority to act for that organization within the scope of your use. If you do not have the required authority or do not agree to the applicable terms, do not use the restricted product functionality on the organization's behalf.

The company is the contracting service provider. Identifying PhaseFolio as a corporation does not waive any non-excludable right or create immunity for conduct for which applicable law imposes liability.

By accessing or using the Services, you agree to these Terms to the extent applicable to your use. Where a service requires an express acceptance step or a separate signed agreement, that process also applies.

2. Separate agreements and order of precedence

If your organization has a signed enterprise agreement, order form, data-processing addendum, confidentiality agreement, or other written agreement with PhaseFolio, that agreement controls to the extent it conflicts with these public Terms on the subject it governs.

Product access, service scope, commercial charges, negotiated support commitments, and additional restrictions may be specified in those agreements or the applicable access terms. A marketing page, demonstration, preview, or informal statement does not amend a signed agreement. These Terms do not create a new payment obligation beyond an arrangement you have accepted.

3. The product family and permitted purpose

Atlas is a source-linked comparator-surfacing and evidence-inspection tool. It helps users examine candidate records, comparison context, and the limits of available evidence. It does not diagnose, recommend treatment, declare clinical benefit-risk, or rank efficacy across incomparable evidence.

Workspace supports asset diligence, assumptions, scenario analysis, valuation modeling, and reviewable outputs. Its calculations depend on inputs, assumptions, methodology, and the available evidence.

Sentinel is in development. Descriptions of planned monitoring or change-following capabilities are statements of direction, not a commitment that those capabilities are currently available or will be delivered by a particular date.

The Services are intended for professional research and business evaluation. They do not provide medical, investment, legal, tax, accounting, fairness-opinion, or regulatory advice. Use does not establish a fiduciary, advisory, clinician-patient, broker, or similar professional relationship with PhaseFolio.

4. Accounts, access, and organization responsibility

Access may be granted to an individual, an organization, or a particular product lane. An account does not confer access to every product, source, feature, or organization's information. Use the permissions actually assigned to you.

Provide accurate account and business information, protect your credentials, and promptly report suspected unauthorized use. Do not share personal credentials or use another person's account. Organization administrators are responsible for appropriate membership and role assignments and for reviewing access when a member's responsibilities change.

You remain responsible for activity you authorize and for the instructions you give within the Services, subject to applicable law and any separate agreement. A user role or API credential does not authorize access beyond its scope.

5. Customer content and your rights

You retain your rights in the asset information, assumptions, notes, scenarios, uploaded context, and other material you or your organization submit ("Customer Content"). Public-source material incorporated in that content remains subject to the rights of its original owner or source.

You authorize PhaseFolio and its necessary service providers to host, process, transmit, format, and reproduce Customer Content to provide the functionality you request, maintain and secure the service, respond to support requests, and meet applicable obligations. This operational permission does not transfer ownership of Customer Content to PhaseFolio and is subject to applicable confidentiality and data-processing agreements.

You are responsible for having the rights and permissions needed to submit the content and request its processing. Do not submit PHI, patient-level records, regulated clinical datasets, credentials, unlawful material, or content you are prohibited from disclosing. Asset-level content can still contain personal or confidential information; use appropriate care.

When you direct an export, sharing action, or external integration, you are responsible for selecting authorized recipients and reviewing what is included. Content delivered to a recipient may no longer be under PhaseFolio's control.

6. Confidentiality and privacy

Non-public Customer Content should be treated as confidential and used within the purposes described in these Terms and the applicable agreement. Access may be provided to authorized organization users and service providers that need it for the requested service, security, administration, or support, subject to the applicable obligations.

Confidentiality restrictions do not extend to information that is lawfully public without a breach of duty, independently developed without use of confidential content, or lawfully obtained without a confidentiality restriction. Disclosure required by law or valid legal process remains subject to applicable notice and protection requirements.

The Privacy Policy describes personal-information handling. It does not replace a required data-processing agreement or authorize you to submit prohibited information. Where a signed confidentiality or data-processing agreement applies, its relevant terms control.

7. Source material, coverage, and AI output

Sources can be incomplete, stale, inconsistent, unavailable, or subject to usage restrictions. A surfaced record is a candidate for inspection, not a representation of exhaustive coverage or scientific comparability. Missing information, failed searches, and unavailable sources are not evidence of biological absence, safety, inactivity, or a negative result.

AI-assisted output can contain errors, unsupported inferences, or omissions. Review the underlying sources and material assumptions before relying on an output. The fact that a statement has a citation does not establish that every interpretation of it is justified.

You are responsible for evaluating the appropriateness of a comparison, preserving its population, arm, endpoint, denominator, timepoint, and other relevant context, and obtaining professional advice where your decision requires it.

8. Models and consequential decisions

A scenario, probability estimate, valuation, forecast, or sensitivity analysis is conditional on its inputs and methodology. It is not a guarantee of scientific success, clinical outcome, approval, revenue, financing, investment return, or transaction value.

Review material outputs before using them in investment committee papers, licensing negotiations, financing, board materials, regulatory work, or other consequential decisions. An illustrative example, public backtest, or demonstration should not be represented as a result obtained on your own case or as independent validation of every PhaseFolio capability.

9. Intellectual property and public materials

PhaseFolio and its licensors retain their rights in the software, interface, product names, documentation, methods, and other proprietary materials, except for Customer Content and third-party materials. Your permitted use is limited to the access and purposes authorized by the applicable service and agreement.

You may refer to public research and methodology with appropriate attribution and within applicable law and any stated license. Do not remove source attribution, misrepresent authorship, present PhaseFolio's own research as independent third-party validation, or imply an endorsement or certification that has not been granted.

The PhaseFolio name and product names identify their provider. These Terms do not represent that every name is a registered trademark, nor do they grant permission to use a mark in a way that suggests affiliation or endorsement.

10. Acceptable use and integrations

You must not:

• Access or attempt to access another user's or organization's non-public information without authorization.
• Bypass authentication, product permissions, source restrictions, rate limits, or other access controls.
• Introduce malicious code, exploit payloads, harmful files, or instructions intended to disclose protected information or interfere with the service.
• Scan, stress-test, or probe production systems without appropriate written authorization.
• Use the Services for unlawful, deceptive, infringing, or abusive activity.
• Remove provenance, citations, version information, or verification metadata in a way that misrepresents an output.
• Represent a source-limited or illustrative result as complete, independently validated, clinically approved, or guaranteed.

API/MCP use is subject to the documented authentication, permissions, compatibility, and usage limits for the supported interface. A browser route or undocumented internal endpoint is not a promise of a supported external API. Documentation access does not grant access to private product data.

11. Exports, signatures, and verification

Where supported, a signed output or verification service records the relationship between an issued artifact, its hash, and associated version metadata. Verification is an integrity and provenance function. It does not certify the truth of every statement, a clinical conclusion, an investment thesis, or a commercial forecast.

Check the specific export's supported format, scope, and verification information. Different workflows can produce different artifacts. Sharing or retaining an artifact is your responsibility where you control its distribution. An earlier export remains a record of its earlier case and does not silently update when inputs or source material later change.

12. Service changes and availability

Features, source access, public documentation, and product workflows may change. Availability can be affected by third-party services, maintenance, capacity, source restrictions, security events, or defects. Unless an applicable written agreement states otherwise, no particular uptime, support response time, source completeness, or release date is promised by these Terms.

For versioned interfaces and outputs, refer to the applicable compatibility and methodology information. Descriptions of planned capabilities do not establish an entitlement to future development.

13. Suspension, termination, and retained records

PhaseFolio may restrict or suspend access where reasonably necessary to address unauthorized access, abuse, a material violation of applicable terms, a security concern, or a legal requirement. Any notice, cure, or termination rights in a signed agreement continue to apply. Immediate action may be necessary where delay would create a material security or legal risk.

You may stop using the Services and request closure or deletion through the applicable account or support process. Contractual obligations already incurred and records that must lawfully be retained are not automatically cancelled by stopping use. Export, deletion, backup, and verification-record handling are addressed by the applicable workflow, agreement, and Privacy Policy.

Provisions that by their nature need to continue after access ends—including ownership, confidentiality, accrued obligations, applicable disclaimers, and liability limitations—continue to the extent permitted by law and the governing agreement.

14. Warranties and disclaimers

Except for an express commitment in an applicable written agreement and to the maximum extent permitted by law, the Services are provided on an as-available basis. PhaseFolio disclaims implied warranties of merchantability, fitness for a particular purpose, non-infringement, and uninterrupted availability to the extent such disclaimers are legally permitted.

PhaseFolio does not warrant that every source or output is complete, current, accurate, error-free, suitable for your purpose, or free from service interruption. Public research, previews, and third-party source materials have the limitations disclosed with them. Nothing in this section removes an express obligation in a signed agreement or a warranty that cannot lawfully be excluded.

15. Limitation of liability

To the maximum extent permitted by applicable law, PhaseFolio is not responsible for investment losses, scientific or business decisions, financing or regulatory outcomes, or downstream uses of exported materials arising from your reliance on the Services. This limitation is subject to any express responsibility assumed in a separate written agreement.

Where a monetary limitation is permitted by applicable law, PhaseFolio's aggregate liability arising from the affected service is limited to the amount paid to PhaseFolio for that service during the twelve months preceding the event giving rise to the claim, unless a separate written agreement provides otherwise.

Nothing in these Terms excludes or limits liability, remedies, or rights that applicable law does not permit to be excluded or limited. This includes any applicable restriction on limiting liability for fraud, intentional misconduct, or other non-waivable obligations. The monetary cap does not override this paragraph. Mandatory rights may vary by jurisdiction.

16. Changes, notices, and questions

A released revision will state its effective date and will be communicated through the applicable service, website, or contractual notice process. Material changes requiring additional notice or assent will be handled as required by applicable law or agreement. Changes do not retrospectively alter accrued rights or obligations except as permitted by applicable law and agreement.

If a provision is unenforceable, it should be applied only to the extent permitted by law; the remaining provisions continue where legally possible. Failure to enforce a provision on one occasion does not, by itself, waive the right to enforce it later.

Contact PhaseFolio, Inc. at contact@phasefolio.com to raise a concern or ask about these Terms.