Key facts
- OpenAI researcher Miles Wang is reportedly leaving to start a new company focused on AI drug discovery.
- The new startup is in talks to raise approximately $200 million.
- The company is being discussed at a valuation of $2 billion.
- Lightspeed is reportedly in discussions to lead the funding round.
- Wang disputed the reported funding figures and company description.
Miles Wang, a researcher at OpenAI known for his work in AI for scientific discovery, is reportedly planning to leave the company to establish a new startup focused on AI-driven drug discovery. Several other OpenAI researchers are expected to join him.
Sources indicate that Wang is in discussions to secure approximately $200 million in funding at a valuation of $2 billion, with Lightspeed reportedly considering leading the investment round. However, these details are subject to change, and Wang himself has disputed the reported figures and company description without providing specific corrections.
The potential venture highlights significant investor interest in applying artificial intelligence to life sciences. This follows recent funding successes for similar companies, such as Chai Discovery, which raised $400 million at a $3.8 billion valuation, and Google DeepMind's spinout Isomorphic Labs, which secured $2.1 billion for its Series B round.
Wang's new venture may concentrate on identifying novel uses for existing drugs or repurposing those that previously failed clinical trials. This strategy can potentially accelerate the path to market and revenue compared to developing entirely new drug compounds, as existing drugs have already undergone safety testing.
Wang joined OpenAI in 2024 after leaving Harvard, where he was pursuing a computer science degree. His work at OpenAI included co-authoring research on automating and accelerating scientific discovery through AI models.