OpenAI researcher Miles Wang in talks to launch AI drug discovery startup valued at $2B
Quick Answer
Miles Wang, an OpenAI researcher, is launching an AI drug discovery startup valued at $2 billion, aiming to raise $200 million.
Quick Take
Miles Wang, an OpenAI researcher, is launching an AI drug discovery startup valued at $2 billion, aiming to raise $200 million. His venture may focus on repurposing existing drugs, leveraging AI to accelerate life sciences breakthroughs.
Key Points
- Wang's startup aims to develop AI models for drug discovery.
- Funding discussions involve Lightspeed leading a $200 million round.
- Chai Discovery recently raised $400 million for similar AI applications.
- Wang previously co-authored research on AI's role in scientific discovery.
- The startup may focus on finding new uses for FDA-approved drugs.
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Miles Wang, an OpenAI researcher whose work includes using AI to accelerate scientific and biological discovery, is leaving the ChatGPT maker to launch a new startup focused on developing AI models for drug discovery, according to four people with knowledge of his plans. Several other OpenAI researchers are expected to join the new company.
Wang is in talks to raise about $200 million at a $2 billion valuation, two of the people said. Lightspeed is in discussions to lead the funding round, according to the people. Talks are ongoing, the deal may not be final and details could change.
Wang disputed the story’s funding figures and description of the company but did not specify the correct numbers or details. Lightspeed didn’t respond to a request for comment.
The funding discussions point to investor interest in applying AI to make breakthroughs in life sciences. Chai Discovery, a two-year-old startup developing AI models that can predict molecular interactions to identify new drugs, announced on Tuesday that it raised $400 million at a $3.8 billion valuation. (Co-founder Josh Meier also passed through OpenAI as a researcher.) Meanwhile, Google DeepMind spinout Isomorphic Labs, which also develops AI models for drug discovery, raised a $2.1 billion Series B in May.
Wang’s new startup may be working on AI models that will help find new uses for existing drugs and possibly those that previously failed in trials, a couple of sources told TechCrunch. Finding new uses for FDA-approved drugs can result in significantly faster time to revenue than developing new drugs from scratch, as these medicines have already been tested for safety.
Wang joined OpenAI in 2024 after dropping out from Harvard where he was working on a bachelor’s degree in computer science. (In recent years, investors are once again comfortable in betting on young founders who haven’t completed college.)
At OpenAI, he co-authored research papers, including evaluating how AI models can automate and accelerate scientific discovery.
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Marina Temkin is a venture capital and startups reporter at TechCrunch. Prior to joining TechCrunch, she wrote about VC for PitchBook and Venture Capital Journal. Earlier in her career, Marina was a financial analyst and earned a CFA charterholder designation.
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— Originally published at techcrunch.com
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