Toronto-based biotech company Intrepid Labs has officially exited stealth mode, announcing $15.4 million CAD ($11 million USD) in funding to modernise drug formulation through machine learning and robotics.
The startup, a spinout from the University of Toronto, is developing technology that significantly accelerates pharmaceutical development by replacing traditional trial-and-error processes with AI-powered automation.
The funding includes a $9.8 million CAD seed round led by life sciences investor Avant Bio, building on an earlier unannounced $5.6 million CAD pre-seed round led by Radical Ventures, with participation from Propagator Ventures.
AI and robotics slash drug formulation timelines
At the heart of Intrepid Labs is its proprietary robotic platform Valiant, a modular, AI-driven lab that automates the drug formulation process. Starting with an active pharmaceutical ingredient and a target profile, Valiant autonomously selects, prepares, and tests formulations, dramatically cutting the development timeline from months to days.
Drug formulation typically involves combining active and inactive ingredients to ensure optimal delivery and effectiveness. Intrepid’s platform enables companies to design delivery methods, dosing frequencies, and user experiences from the outset, rather than relying on iterative manual testing.
“Intrepid Labs is unlocking a new era in drug formulation, in which delivery format, dosing frequency, and patient experience can be intentionally designed from day one,” said Sebastien Latapie, partner at Avant Bio.
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Academic roots, commercial vision
Founded in 2023, Intrepid Labs was co-founded by CEO Christine Allan, CSO Pauric Bannigan, R&D director Riley Hickman, and AI advisor Alán Aspuru-Guzik — all with strong academic backgrounds. Most co-founders contributed to a 2021 academic paper on AI-driven drug development, highlighting their expertise in the space.
The startup has reportedly secured partnerships with several large pharmaceutical companies, contract research organisations, and mid-sized biotechs. It is also developing proprietary oral and long-acting injectable delivery platforms for both small molecules and biologics, with licensing opportunities available.
Future of drug development
Intrepid’s vision is to become a foundational player in pharmaceutical R&D by transforming how formulations are created. With its fresh capital, the company plans to scale its commercial operations, hire new talent, and expand its platform’s capabilities across therapeutic verticals.
By merging cutting-edge AI with automated lab workflows, Intrepid Labs aims to make drug development faster, smarter, and more personalised — delivering better patient outcomes while cutting R&D costs.
