Artificial intelligence (AI)-first drug discovery startup Isomorphic Labs announced on Tuesday that it has raised $2.1 billion in a Series B funding round led by Thrive Capital.
The round also saw participation from existing investors Alphabet and venture capital (VC) firm GV (formerly known as Google Ventures).
New backers included investment firms such as Abu Dhabi-based MGX, Singapore’s Temasek, Alphabet’s growth stage VC fund CapitalG, and the UK Sovereign AI Fund. The company did not disclose its valuation as part of the funding round.
Led by Demis Hassabis and President Max Jaderberg, Isomorphic Labs was launched by Alphabet in 2021 as a spinout of DeepMind to commercialise AI-driven biological breakthroughs, including technologies such as AlphaFold.
Hassabis also serves as CEO of DeepMind, which was acquired by Google parent Alphabet Inc. in 2014.
The company said the fresh capital will be used to further scale its AI-powered drug design engine, known as IsoDDE, and advance its pipeline of therapeutic candidates toward clinical development. It will also use the capital to expand its global hiring across AI, engineering, drug discovery and clinical research as it scales up its AI models for broader commercial deployment.
Isomorphic Labs has also formed strategic partnerships with pharmaceutical companies, including Novartis, Eli Lilly and Company, and Johnson & Johnson, which the company said validate the commercial potential of its AI-driven approach to drug development.
“This funding round is a massive vote of confidence from a diverse group of top-tier international investors in our AI-first approach to drug design and development,” said Hassabis, in a statement. “Now that we have shown our approach is fundamentally sound, our focus is on scaling our technology to its full potential. This capital injection allows us to build out our drug design engine at scale, driving us forward in our mission to solve all disease.”
The application of AI in healthcare offers a profound opportunity, said Ruth Porat, president and chief investment officer (CIO), Alphabet and Google, in a statement. “Isomorphic Labs has already made extraordinary progress in harnessing AI to accelerate drug discovery, and we are excited by this momentum and the early promise of the technology platform,” she added. “This trajectory is encouraging, and this funding will be used to accelerate the work and bring important interventions to market with greater speed.”
According to the company, its proprietary AI models are designed to work across multiple therapeutic areas and drug modalities, enabling faster and more precise drug discovery.
Isomorphic Labs recently published findings demonstrating the predictive accuracy and scalability of its AI platform.
The round also saw participation from existing investors Alphabet and venture capital (VC) firm GV (formerly known as Google Ventures).
New backers included investment firms such as Abu Dhabi-based MGX, Singapore’s Temasek, Alphabet’s growth stage VC fund CapitalG, and the UK Sovereign AI Fund. The company did not disclose its valuation as part of the funding round.
Led by Demis Hassabis and President Max Jaderberg, Isomorphic Labs was launched by Alphabet in 2021 as a spinout of DeepMind to commercialise AI-driven biological breakthroughs, including technologies such as AlphaFold.
Hassabis also serves as CEO of DeepMind, which was acquired by Google parent Alphabet Inc. in 2014.
The company said the fresh capital will be used to further scale its AI-powered drug design engine, known as IsoDDE, and advance its pipeline of therapeutic candidates toward clinical development. It will also use the capital to expand its global hiring across AI, engineering, drug discovery and clinical research as it scales up its AI models for broader commercial deployment.
Isomorphic Labs has also formed strategic partnerships with pharmaceutical companies, including Novartis, Eli Lilly and Company, and Johnson & Johnson, which the company said validate the commercial potential of its AI-driven approach to drug development.
“This funding round is a massive vote of confidence from a diverse group of top-tier international investors in our AI-first approach to drug design and development,” said Hassabis, in a statement. “Now that we have shown our approach is fundamentally sound, our focus is on scaling our technology to its full potential. This capital injection allows us to build out our drug design engine at scale, driving us forward in our mission to solve all disease.”
The application of AI in healthcare offers a profound opportunity, said Ruth Porat, president and chief investment officer (CIO), Alphabet and Google, in a statement. “Isomorphic Labs has already made extraordinary progress in harnessing AI to accelerate drug discovery, and we are excited by this momentum and the early promise of the technology platform,” she added. “This trajectory is encouraging, and this funding will be used to accelerate the work and bring important interventions to market with greater speed.”
According to the company, its proprietary AI models are designed to work across multiple therapeutic areas and drug modalities, enabling faster and more precise drug discovery.
Isomorphic Labs recently published findings demonstrating the predictive accuracy and scalability of its AI platform.
