Miles Wang Seeks $200 Million for AI Drug Startup at $2 Billion Valuation
Updated
Updated · TechCrunch · Jul 15
Miles Wang Seeks $200 Million for AI Drug Startup at $2 Billion Valuation
1 articles · Updated · TechCrunch · Jul 15
Summary
Miles Wang is leaving OpenAI to launch a drug-discovery startup and is in talks to raise about $200 million at a $2 billion valuation, with Lightspeed discussing leading the round.
Several OpenAI researchers are expected to join the company, which sources said may build AI models to find new uses for existing drugs, including some that failed in trials.
That approach could shorten the path to revenue because FDA-approved medicines have already cleared safety testing, helping explain investor appetite for AI tools in life sciences.
The fundraising push lands amid a broader boom: Chai Discovery said Tuesday it raised $400 million at a $3.8 billion valuation, while Isomorphic Labs raised $2.1 billion in May.
Wang, who joined OpenAI in 2024 after leaving Harvard, co-authored research on using AI to automate and accelerate scientific discovery; he disputed the report's funding figures and company description without giving alternatives.