Paris-based life sciences venture capital firm AdBio Partners announced on Tuesday that it is expanding into Canada with a new Montreal office, its first location outside Paris and Barcelona. The firm specializes in early-stage biotechnology companies developing innovative therapeutics and is backed by the French government and the European Investment Fund. The expansion coincides with the launch of AdBio's third fund and a new commitment from Quebec's Fonds de solidarité FTQ.
A Canadian Expansion
AdBio's Montreal office will be led by Mounia Azzi, PhD, Partner, and Didier Leconte, Venture Partner, working alongside the firm's broader investment team and venture partners. The office will allow AdBio to engage with researchers and founders at the earliest stages of company creation and connect them to its international network of investors, entrepreneurs, and pharmaceutical partners. AdBio expects the new base to help deliver its hands-on model of seed financing and company building to the Canadian biotechnology sector.
Third Fund Launch and Backing
AdBio also announced the launch of its third fund with a target size of 120 million euros. The fund has secured a 7 million euro commitment from Fonds de solidarité FTQ, while other limited partners include the European Investment Fund and The National Seed Fund 3 managed by Bpifrance under France 2030. According to partner Mounia Azzi, AdBio expects 20% of the fund to be invested outside Europe, with a focus on Quebec.
Investor Commitment from Quebec
Fonds de solidarité FTQ described its investment as a way to back a specialized firm with a recognized track record in building high-potential biotechnology companies. The Quebec-based investor said AdBio's Montreal presence will create greater opportunities for collaboration among researchers, entrepreneurs, and investors on both sides of the Atlantic. 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.
Why Quebec Is a Natural Fit
AdBio founder and chairman Alain Huriez described Quebec as a natural choice for the firm's first expansion outside Europe. He highlighted the province's combination of outstanding academic science, experienced drug development talent, and a highly developed life sciences sector. AdBio's strategy is to identify promising science at its earliest stages and build biotechnology companies that can develop first-in-class or best-in-class therapeutics.
A Challenging Local Funding Environment
AdBio's arrival comes as Canada's life sciences sector faces a funding downturn. According to the Canadian Venture Capital & Private Equity Association, the sector attracted only 837 million Canadian dollars in 2025, the lowest annual amount since 2018. In the first half of 2026, deal activity dropped by 39% compared with the same period a year earlier.
Bridging Canada and Europe
The expansion aligns with the Canadian government's broader effort to attract foreign investment and reduce economic reliance on the United States. AdBio is positioning its Montreal office as a durable bridge between Canada and Europe for the creation and financing of early-stage biotechnology companies. The move also coincides with Canadian discussions around closer ties with the European Union.
AdBio Partners' entry into Montreal signals growing European interest in Quebec's life sciences ecosystem at a time when local funding has tightened. With new local leadership, a dedicated third fund, and support from Fonds de solidarité FTQ, the firm aims to back high-potential biotechnology companies and strengthen transatlantic collaboration. The effort is likely to be closely watched by researchers, entrepreneurs, and investors seeking more access to global capital and specialist expertise.