A man is in serious condition after being rushed to hospital with life-threatening injuries following a stabbing near College Street and Spadina Avenue.

Toronto police told CBC News the man was stabbed in the chest after he and a number of friends were approached by a group of males at around 3:30 a.m. early Sunday during a robbery attempt.

A struggle ensued between the group and the victims, who were reluctant to turn over their cell phones and jewelry.

Paramedics say the man, described as a young adult, suffered stab wounds but could not confirm how many.

Police are searching for five suspects. Four are described as black, in their early 20s; another, white in his early 20s.

A portion of College Street was closed west of Spadina Avenue as police investigated, but has since reopened.