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Biossil raises $153M in OpenAI-led funding round, valuing the Toronto AI drug discovery startup at $1B.
Abu Dhabi Investment CouncilDuke University endowmentPanache VenturesGolden VenturesModern CapitalQuiet CapitalFounders FundOpenAI Startup Fund
Description
OpenAI has led a $153-million Series Unknown financing of Biossil Inc., a Toronto-based startup using artificial intelligence to revive failed drug candidates. The funding round values Biossil at $1 billion and includes participation from Founders Fund, Quiet Capital, Modern Capital, Golden Ventures, Panache Ventures, Duke University's endowment, and Abu Dhabi Investment Council. Biossil plans to use the capital to expand clinical development capacity and acquire additional drug candidates. The all-equity deal includes a small portion allocated to early employees.
Company Information
Company
Biossil
About
Biossil is a Toronto-based biotech startup that connects AI with drug development by identifying molecules that could succeed where others failed in clinical trials. The company acquires or licenses these discarded drug candidates, giving it a strategic advantage in pharmaceuticals. With a focus on quickly translating AI capabilities into new therapies, Biossil aims to become one of the largest pharmaceutical companies in Canada.
Fundz sees it the moment Biossil raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
