Biossil raises $153M, hits unicorn with OpenAI backing
Biossil, a Toronto startup that buys and revives failed drug candidates using AI, just raised $153 million, pushing its valuation to $1 billion. OpenAI's Startup Fund led the all-equity round, with support from Founders Fund and other investors. Biossil plans to use the funding to expand clinical trials and buy more drug candidates, accelerating efforts to turn AI-derived insights into real treatments.
- Raised $153M led by OpenAI Startup Fund
- Biossil now valued at $1 billion
- Buys discarded drug projects for AI-assisted development
- Funding will expand clinical capacity and candidate acquisition
- Focuses on diseases like sickle cell, cancer, Alzheimer's
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