Toronto-based AI Startup BenchSci Adapts with Layoffs as Generative AI Reshapes Drug Discovery, Canada

Toronto-based AI startup BenchSci has announced layoffs as it adapts to the impact of generative AI in the field of drug discovery. The company did not disclose the exact number of staff affected, but several former employees claim that the layoffs reduced the company’s headcount by 17 percent. BenchSci cited shifts in the economic environment, operational efficiencies, and adaptation to technological advancements, particularly generative AI, as the reasons behind the reduction. The company believes that generative AI will continue to reshape preclinical research and development, making drug discovery more efficient and aiding in the development of new medicine. This move comes six months after the startup closed $95 million in Series D funding to expand its AI-powered drug discovery platform. BenchSci is not the only Canadian AI and biomedical startup to have reduced its headcount recently, with Vancouver-based AbCellera also announcing layoffs.