AdBio Partners, a Paris-founded venture capital firm focused on early-stage life sciences, has opened a new office in Montreal, marking its first expansion into Canada and giving the firm a base in North America alongside its existing European operations.
The firm, founded in 2016, specializes in identifying promising scientific research at its earliest stages and partnering with researchers, entrepreneurs and academic institutions to build biotechnology companies developing first- or best-in-class therapeutics. Through its first two funds, AdBio has built a portfolio of 30 companies across Europe, drawing follow-on investment and syndication from venture capital investors and pharmaceutical companies.
Alain Huriez, founder and chairman of AdBio Partners, said Quebec was the natural choice for the firm’s first expansion beyond Europe, citing the province’s academic science, drug development talent and established life-sciences sector. He said having a team on the ground would let the firm engage with researchers and founders early and connect them to its international network of investors, entrepreneurs and pharmaceutical partners.
New Fund Backed by Quebec and European Investors
The Montreal office launch coincides with AdBio’s third fund, which counts the Fonds de solidarité FTQ among its backers. The Quebec-based investor is providing both capital and local expertise in the life sciences sector. Other limited partners in the fund include the European Investment Fund and the National Seed Fund 3, which is managed by Bpifrance on behalf of the French government as part of the France 2030 program.
Maxime Pesant, vice-president of private equity and impact investing in life sciences at the Fonds de solidarité FTQ, said the commitment to AdBio’s third fund reflects confidence in a firm with a track record of building and supporting biotechnology companies. He said the Montreal office is expected to create more opportunities for collaboration among researchers, entrepreneurs and investors across the Atlantic while helping foster new life sciences companies in Quebec.
Local Leadership and Fund Strategy
AdBio’s Canadian activities will be led out of Montreal by Mounia Azzi, a partner at the firm, and Didier Leconte, a venture partner, working alongside the firm’s broader investment team. Through its third fund, the Montreal team plans to make the firm’s first investments in Canada and establish an ongoing link between Canada and Europe for financing early-stage biotechnology companies.
AdBio Partners now operates from three cities: Paris, Barcelona and Montreal. The Fonds de solidarité FTQ, which has more than 828,000 shareholders and reported net assets of $23.7 billion as of May 31, 2026, said it invested $1.9 billion in the Quebec economy during its 2025-2026 fiscal year through its venture, development capital, and local, regional and real estate networks.
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