Biossil

Biotech · Artificial Intelligence · Drug Development

Funding

Biossil reportedly raises $153M in OpenAI-led round, hits $1B valuation

Turning shelved drug failures into approved medicines sidesteps the costliest, slowest phase of pharma: clinical trials.

• Biossil, a Toronto startup that uses AI to revive failed drug candidates, raised $153 million led by OpenAI's Startup Fund, valuing the company at $1 billion, according to The Globe and Mail.
• Biossil was founded in 2023 by Anthony Mouchantaf, a lawyer turned tech entrepreneur who previously led RBC's venture capital strategy, and Alexander Mosa, who trained as an internal medicine specialist.
• The all-equity round will fund expanded clinical development capacity and let Biossil selectively acquire more discarded drug candidates to run through its pipeline.
• The raise follows a $43 million round a year earlier co-led by OpenAI and Founders Fund, and a $22 million round in 2024 led by Founders Fund; the company's new preferred shares are priced at $28.69, triple last year's level.
• The deal comes as OpenAI and rival Anthropic push beyond general-purpose AI models into sector-specific tools, with health care seen as a proving ground for tangible impact.
• It shows major AI labs shifting from selling models to bankrolling entire drug pipelines, betting AI can rescue costly clinical failures rather than just speed up early discovery.