Biossil hits unicorn status with OpenAI-led financing

Toronto-based biotech firm Biossil raised $153 million USD ($216 million CAD) at a $1 billion valuation. The round was led by the OpenAI Startup Fund, with backing from Founders Fund, Quiet Capital, Golden Ventures and Duke University's endowment. The all-equity funding will expand clinical development and add drug candidates to its pipeline.

• Raised $153M at a $1B valuation
• Round led by the OpenAI Startup Fund
• Funds to expand clinical development and buy drug candidates
• Biossil revives failed drug projects using AI