Which Are Toronto’s Most Influential Pharmaceutical Startups in 2023?

Toronto has nurtured a vibrant pharmaceutical industry, thanks to the city’s commitment to supporting entrepreneurship, tech innovation and healthcare development. This thriving ecosystem has churned out some of the most promising pharmaceutical startups. In this article, we familiarize you with some of these startups, their vision, co-founders and the industries they serve.

CanadaVenture.news, through its keen focus on Canada’s business landscape is here to share with you some of the most innovative startups, their missions, and the visionaries who run them. With Toronto’s startup scene deeply rooted in an array of sectors like biotechnology, health care, industrial automation, your understanding of the pharmaceutical industry won’t be the same at the end of this article.

Whether you’re an investor looking for up-and-coming companies to invest in, an entrepreneur seeking inspiration, or an industry insider curious about the contemporary pharmaceutical landscape, this list of pharmaceutical startups should help you better understand the level of innovation and entrepreneurship happening in Toronto.


Cybin is a biotechnology startup that operates in the healthcare and pharmaceutical industry. Launched by Eric So, John Kanakis, and Paul Glavine, the company’s vision is to transform the mental healthcare sector by advancing psychedelic therapeutics. Their efforts are committed to leveraging scientific and medical advances to improve mental healthcare.

Basetwo AI

Founded by Kiefer Eaton, Tawfeeq Abdul Gaffoor, and Thamjeeth Abdul Gaffoor, Basetwo offers solutions designed to increasing efficiency and reducing waste for manufacturers. Their services span various industries such as industrial automation, industrial manufacturing, manufacturing, pharmaceutical, and they make use of predictive analytics and software in their operation.

QurCan Therapeutics Inc.

QurCan Therapeutics, co-founded by Mohammad Ali Amini and Shirley Wu, operates within the life sciences sector. The startup is developing next-generation nanoparticles aimed at leading the stages forward in gene and chemotherapy.


Operating within the healthcare, medical, and pharmaceutical industries, ShiftPosts offers an on-demand platform for shift workers in the healthcare sector. Shiftposts was founded by Bartek Jach, David Beynon, and Elizabeth Cooper.

Satellos Bioscience

Satellos Bioscience, co-founded by Frank Gleeson and Michael Rudnicki, provides regenerative medicine. The company has carved a niche for itself within the healthcare, medical, and pharmaceutical sectors.

Damona Pharmaceuticals

Specializing in the medical and pharmaceutical sectors, Damona Pharmaceuticals actively develops treatments aiming to prevent cognitive deficits at the pre-clinical level.


PharmaTher, founded by Fabio Chianelli, is a life sciences company with a sharp focus on the research and development of psychedelic pharmaceuticals.

Inolife Sciences

Inolife is an ambitious specialty company working in the intersection of the biotechnology, medical, medical device and pharmaceutical industries.

Mountain Valley MD

Mountain Valley MD founded by Evan Clifford and Jeffrey Dignard, operates in the cannabis, manufacturing, and pharmaceutical industries, offering premium quality medicinal cannabis.


Mazlite, co-founded by Amirreza Amighi and Cameron Dallas, provides an Industrial IoT platform for spray monitoring and digitization across agriculture, artificial intelligence, automotive, food and beverage, and pharmaceutical industries.

Altis Labs

With a strong foundation in Artificial Intelligence, Bioinformatics, Biopharma, Biotechnology, Clinical Trials, Cloud Computing, Health Care, Health Diagnostics, Machine Learning, and Pharmaceutical industries, Altis Labs, co-founded by Felix Baldauf-Lenschen, helps life sciences companies run successful clinical trials using their computational imaging software platform.

Spartan Finance

Spartan Finance, co-founded by Sajjad Abbas and Shakeel-Abbas Hussein, is actively evening the playing field between retail investors and hedge funds in the Biotechnology, Information Technology, Pharmaceutical, and Venture Capital industries.


MedEssist, launched by Michael Do, revolutionizes population-scale health initiatives by providing the first inventory-based patient relationship tools for pharmacies.


PsyTech is a trailblazer in the Healthcare, Pharmaceutical, and Psychology industries, offering education, clinical care, and clinical tools for the psychedelic medical sector.

Paradox Immunotherapeutics

Paradox Immunotherapeutics, co-founded by Natalie J. Galant and Yulong Sun, develops treatments for patients suffering from rare amyloid diseases. The company is committed to leveraging breakthroughs in biotechnology and life sciences to transform pharmaceutical approaches in managing rare diseases.

Looking to amplify your brand’s impact in Canada’s thriving startup and investment sector? Join the league of innovators, leaders, and decision-makers making a difference through Canada Venture News. Engage with our audience of startup founders, investors, and executives through sponsored articles and partnerships. Discover more on our Promotion & Sponsored Articles page or email us directly at [email protected]. Let’s shape your story together.

Canada Venture News

CanadaVenture.news is a Canadian venture magazine that covers startups, business, technology, and innovation in Canada. The online publication provides news, insights, and resources for entrepreneurs, investors, and business professionals, featuring articles, interviews, and analysis of the latest trends and developments in the Canadian startup ecosystem.