The financing values the Toronto-based startup at US$1 billion, a source told The Globe and Mail. Other investors in the round reportedly included Founders Fund, Quiet Capital, Modern Capital, Golden Ventures, Panache Ventures and the Abu Dhabi Investment Council. Biossil CEO Anthony Mouchantaf confirmed the story via LinkedIn. (The Globe and Mail, The Logic)

Talking point: Biossil uncloaked in April, having raised over US$68 million. The startup uses large language models—like those that power ChatGPT—to find drug candidates from pharmaceutical firms that foundered at the clinical trial stage, then buys or licenses them to take to market itself. Bringing AI-driven breakthroughs to patients “requires dedicated infrastructure capable of integrating AI and medicine together from discovery through development and into the clinic,” Mouchantaf wrote. OpenAI’s investment reportedly comes from its startup fund, which has also backed the likes of legaltech firm Harvey and biotech company Chai Discovery.  

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