What happened
OpenAI researcher Miles Wang is departing to launch an AI drug discovery startup, with several other OpenAI researchers expected to join. The new venture focuses on developing AI models to accelerate scientific and biological discovery, including identifying new uses for existing drugs. Wang is in talks to raise approximately $200 million at a $2 billion valuation, with Lightspeed reportedly discussing leading the funding round, according to sources. Wang disputed the funding figures without providing specifics.
Why it matters
Significant capital continues to flow into AI drug discovery, attracting top AI talent from frontier model labs. Founders and investors recognise the potential for AI models to predict molecular interactions and identify new drug applications, offering faster time to revenue for FDA-approved compounds. This follows Chai Discovery's $400 million raise and Isomorphic Labs' $2.1 billion Series B, demonstrating sustained investor confidence in AI's ability to transform life sciences.
