Isomorphic Labs funding reached $2.1 billion in its latest round. The artificial intelligence-driven drug discovery company said this on Wednesday. Existing investor Thrive Capital led the raise.
The round was completed at an undisclosed valuation. It included existing investors Google Ventures and Alphabet. There were also new backers MGX, Temasek and CapitalG, according to the company.
The funding comes as healthcare and technology companies seek practical uses for AI in research and development. This includes efforts to shorten drug discovery timelines.
Founder and Chief Executive Officer Demis Hassabis said the capital would help Isomorphic Labs scale its drug design engine. It would also advance its mission to “solve all diseases.”
Isomorphic Labs was founded in 2021 as a spin-off from Google DeepMind, the AI research lab acquired by Alphabet in 2014. One of DeepMind’s major breakthroughs was AlphaFold. This AI program predicts protein structures to help scientists design drugs and target diseases more effectively.
Hassabis said the company had shown its approach was “fundamentally sound” and was now focused on scaling the technology. The London-based firm expects its first clinical trials by the end of 2026. This is later than Hassabis’ earlier target of AI-designed drugs entering trials by the end of 2025.
Isomorphic Labs raised $600 million in its first funding round last year, also led by Thrive Capital. The company did not immediately respond to a Reuters request for comment on its valuation.
