Key facts
- Isomorphic Labs is seeking a valuation of up to $50 billion in new funding talks.
- The company raised $600 million in its first external funding round.
- The funding round was led by Thrive Capital, with participation from Google Ventures and Alphabet.
- Isomorphic Labs aims to have AI-designed drugs in clinical trials by the end of 2025.
- Demis Hassabis, CEO of DeepMind, also leads Isomorphic Labs.
- Isomorphic Labs utilizes AI models like AlphaFold 3 for drug discovery.
Isomorphic Labs, an artificial intelligence drug discovery company spun out of Google DeepMind, is reportedly in talks to secure new funding at a valuation of up to $50 billion. The London-based firm recently announced it had raised $600 million in its first external funding round, led by Thrive Capital, with participation from Google Ventures and its parent company, Alphabet.
The substantial capital infusion is intended to fuel the growth of Isomorphic's team and accelerate its research and development efforts. CEO Sir Demis Hassabis, who also leads DeepMind, has indicated that the company anticipates having AI-designed drugs enter clinical trials by the end of 2025.
Founded in 2021, Isomorphic Labs leverages advanced AI tools, including DeepMind's AlphaFold 3, to predict protein structures and simulate drug development. The company has previously entered into significant partnerships with pharmaceutical giants Novartis and Eli Lilly. In its first full year of operations in 2023, Isomorphic Labs reported losses of £60 million and R&D costs of £49 million, with a staff of 71.