Funded Biotechnology Startups in Toronto
The 42 rows span rounds closed between July 2020 and October 2025, with 11 dating to 2025.
The 42 rows span rounds closed between July 2020 and October 2025, with 11 dating to 2025. The largest transactions skew the totals considerably: DRI Healthcare Trust raised $632M in November 2024 and a separate $77M in September 2023, Cybin closed a $150M round in March 2024, and Reunion Neuroscience raised a $133M Series A in September 2025. Beneath those outliers, most rounds are far smaller — Arch Biopartners raised $240K in March 2025 and Materia Bioworks $30K in November 2024.
Neuroscience and psychedelic-adjacent companies form a visible cluster: Reunion Neuroscience, Cybin, Psyence, Psyence Biomedical, Awakn Life Sciences, and Diamond Therapeutics all appear in the data. Computational biology is represented through ProteinQure ($11M Series A, May 2025) and Augmenta AI ($10M Seed, March 2025). Many entries carry a "Series Unknown" label, reflecting bridge financing, royalty structures, and other non-standard instruments common at this stage.
Most recent rounds
42 shownRelated listings
Frequently asked
What are the largest disclosed rounds among Toronto biotech companies in this dataset?
DRI Healthcare Trust accounts for the two largest: $632M in November 2024 and a separate $77M in September 2023. Cybin raised $150M in March 2024, and Reunion Neuroscience closed a $133M Series A in September 2025. These four rounds dominate the disclosed capital across all 42 rows.
Which therapeutic focus areas recur most often in this data?
Neuroscience and psychedelic therapeutics appear most frequently — Reunion Neuroscience, Cybin, Psyence, Psyence Biomedical, Awakn Life Sciences, and Diamond Therapeutics are all listed. Immunotherapy and cell therapy are also present through Paradox Immunotherapeutics, CTRL Therapeutics, and Notch Therapeutics.
How active has 2025 been relative to earlier years in this dataset?
Eleven of the 42 rows are dated in 2025, making it the most represented single year. Rounds range from PhenoTips' $1M Seed in October 2025 down to Arch Biopartners' $240K in March 2025, with Reunion Neuroscience's $133M Series A as the year's largest disclosed amount.
Are there companies with multiple rounds appearing in this data?
DRI Healthcare Trust appears twice — $632M in November 2024 and $77M in September 2023. Psyence and Psyence Biomedical are listed as separate entities, each closing a $1M round in October and December 2024 respectively, suggesting two financing vehicles within the same brand family.
What stage labels are most common, and what does that signal about the market?
Seven rows are labeled Seed and five are Series A. The majority carry a "Series Unknown" designation, with additional entries classified as Grant, Pre-Seed, Post-IPO Equity, or left blank — indicating a high proportion of bridge financings, royalty structures, and non-standard instruments in this segment.
How wide is the range between the smallest and largest rounds in this dataset?
The range is extreme. Materia Bioworks raised $30K in November 2024 and Bluedot Organics $50K in December 2022, while DRI Healthcare Trust raised $632M in November 2024. Several rounds are undisclosed, so the true distribution is wider than the disclosed figures suggest.
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