Isomorphic Labs, a platform focused on AI-driven drug discovery founded in 2021 and spun out of Google's DeepMind, has secured $600 million in its first external funding round. The round was led by Thrive Capital, with participation from GV and existing investor Alphabet (Google's parent company). This funding will accelerate the further development of Isomorphic's AI drug design engine and support the company's goal of advancing its drug candidates into clinical trials.
Isomorphic Labs was founded by Demis Hassabis, co-founder of DeepMind. The company leverages DeepMind's technology in AI drug discovery, including AlphaFold, an AI model that predicts the 3D structures of proteins. Last year, Isomorphic Labs established strategic partnerships with pharmaceutical giants Eli Lilly and Novartis, partnerships that could potentially yield up to $3 billion in milestone payments for access to its AI models.
In an interview with the New York Times, Hassabis stated that while Isomorphic Labs didn't urgently need the funding, the additional capital will help attract top research scientists. It's noteworthy that Hassabis and DeepMind researcher John Jumper were awarded the 2024 Nobel Prize in Chemistry for their contributions to AlphaFold.
Key Highlights:
🌟 Isomorphic Labs secures $600 million in funding to boost AI drug development.
💊 The company has forged strategic partnerships with Eli Lilly and Novartis, potentially generating $3 billion in revenue.
🏆 Founder Hassabis and researcher Jumper win the Nobel Prize in Chemistry for their work on AlphaFold.
