AdBio launches €120M fund, opens first office outside Europe in Montreal
What's the deal? Paris-based life sciences venture firm AdBio PartnersDealroom has a profile for this one. Try Dealroom → has launched its third fund, targeting €120 million, and announced a Montreal office — its first outside Paris and Barcelona. The fund has secured a €7 million commitment from Quebec's Fonds de solidarité FTQDealroom has a profile for this one. Try Dealroom →.
Who's backing it? Other limited partners include the European Investment Fund and The National Seed Fund 3, managed by Bpifrance under France 2030. The firm focuses on early-stage biotechnology companies developing new therapeutics and is backed by the French government.
Why Quebec? AdBio expects 20% of the fund to be invested outside Europe, with a focus on the province, according to partner Mounia Azzi. Founder and chairman Alain Huriez cited Quebec's academic science, drug development talent, and developed life sciences sector. The Montreal office will be led by Azzi and venture partner Didier Leconte.
Why now? The move comes as Canada's life sciences sector faces a funding downturn. It attracted only US$613.8M in 2025, the lowest since 2018, per the Canadian Venture Capital & Private Equity Association, and first-half 2026 deal activity fell 39% year on year.
What's the endgame? AdBio wants to identify promising science early and build companies developing first-in-class or best-in-class therapeutics. It is positioning Montreal as a bridge between Canada and Europe for creating and financing early-stage biotech.
Maxime Pesant, a vice president at Fonds de solidarité FTQ, said the partnership should help foster "the next generation of innovative life sciences companies in Quebec."
The signal: The entry reflects growing European interest in Quebec at a time of tightened local funding and Canadian efforts to attract foreign capital and reduce reliance on the US. It also coincides with Canadian discussions around closer ties with the European Union.
Read more: startupresearcher.com
Image credit: Infrogmation
