OpenAI leads US$153-million round in Toronto drug-revival startup Biossil
The financing values the company, which uses AI to give failed drug candidates a second chance, at US$1 billion.
OpenAI has led a US$153-million venture financing of Biossil Inc., a Toronto startup that uses artificial intelligence to give failed drug candidates a second chance at becoming approved therapies, The Globe and Mail reported on Monday.
OpenAI provided most of the round through its OpenAI Startup Fund, and the financing values Biossil at US$1 billion. OpenAI co-led the company's previous round a year ago with Peter Thiel's Founders Fund, when Biossil raised US$43 million.
Founders Fund, which led a US$22-million round in 2024, joined the new deal along with existing investors including Quiet Capital, Modern Capital, Golden Ventures and Panache Ventures.
The round shows the San Francisco AI lab using its startup fund to back applied AI businesses in Canada.
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