Isomorphic Labs raised $600 million in its first external funding round, led by Thrive Capital with participation from GV and Alphabet, according to the Financial Times. The AI-first drug design and development company plans to utilize the investment to advance its AI drug design engine, enhance software capabilities, finance drug development programs, and accelerate research and development efforts.
"This funding will further turbocharge the development of our next-generation AI drug design engine, help us advance our own programs into clinical development, and is a significant step forward towards our mission of one day solving all disease with the help of AI," said Demis Hassabis, founder and CEO of Isomorphic Labs, according to the New York Post. Hassabis, an AI pioneer who also founded Google DeepMind, leads the company with a vision to leverage artificial intelligence to transform drug discovery and bring treatments to patients worldwide.
The funding will accelerate Isomorphic Labs' AI research and development, rapidly advancing its next-generation AI drug design engine and programs into clinical development. The company's unified AI drug design engine comprises predictive and generative AI models, streamlining the task of designing new small molecules with therapeutic applications across multiple therapeutic areas and drug modalities.
"We believe Isomorphic has earned a rare position to define a new age of drug discovery and design, and we are deeply inspired by their mission and the extraordinary progress they have made to date," said Joshua Kushner, founder and CEO of Thrive Capital, according to the Financial Times. Thrive Capital's support demonstrates the growing interest in the potential for artificial intelligence to revolutionize the pharmaceutical industry.
Isomorphic Labs has been advancing drug design programs across multiple therapeutic areas, primarily focusing on oncology and immunology. The company leverages AI technologies to cut costs and develop drugs faster, aiming to bring treatments to millions of patients globally. By transforming the drug discovery and design process through artificial intelligence, Isomorphic Labs aspires to usher in a new era of biomedical breakthroughs.
The company has also secured strategic research partnerships with major pharmaceutical firms, including Eli Lilly and Novartis. These collaborations involve discovering small molecule therapeutics against multiple targets, further contributing to Isomorphic Labs' drug design portfolio. Recently, Isomorphic Labs and Novartis expanded their collaboration to add three additional research programs on the same financial terms as the original agreement, demonstrating the success and potential of their joint efforts.
"After witnessing the extraordinary pace of innovation at Isomorphic Labs, we believe their pioneering approach will redefine AI-powered drug discovery," said Krishna Yeshwant, managing partner at GV, as reported by GEN - Genetic Engineering and Biotechnology News. GV's participation in the funding round demonstrates the confidence that leading investors have in Isomorphic Labs' innovative approach.
As part of its next phase of growth, Isomorphic Labs plans to expand its team of talent. The investment will facilitate the recruitment of experts at the intersection of life sciences and technology, further bolstering the company's capabilities. "Our culture places great emphasis on knowledge sharing between disciplines, fostering a culture of cross-pollination of ideas," wrote Pascal Savy, a research leader in Isomorphic Labs' Drug Design and Medical Research team, on the company's blog.
Isomorphic Labs was founded in 2021 as a spin-off from Google DeepMind, with the ambition to leverage the power of AI to reimagine and accelerate drug discovery. The company's AI drug design engine integrates foundational AI models, including technologies developed in collaboration with Google DeepMind, to run predictions and simulate drug development processes.
The company has developed next-generation AI models that combine to form its unified AI drug design engine. This innovative software is powering several in-house drug development programs, easing aspects of the drug development workflow, and reducing the amount of manual work involved in developing new medicines. By streamlining these processes, Isomorphic Labs aims to significantly speed up the development of new treatments.
Isomorphic Labs' mission to transform drug discovery with the power of artificial intelligence resonates with the broader industry trend of integrating AI into pharmaceutical research and development. The substantial investment from prominent venture capital firms and continued partnerships with leading pharmaceutical companies underscore the company's potential to positively impact global health.
The article was written with the assistance of a news analysis system.