Google's Isomorphic Labs plans to raise more than $2B
What's the story
Isomorphic Labs, the artificial intelligence (AI) drug discovery start-up spun out of Alphabet Inc's Google DeepMind, is in advanced talks to raise over $2 billion in a new funding round. The financing will be led by Thrive Capital, the venture firm that also led Isomorphic Labs's first funding round last year. Alphabet is also said to be participating in this round but it isn't closed yet.
Investment goals
Funding will be used to strengthen drug design engine
The new funding round will be used to strengthen Isomorphic Labs's drug design engine and support its global expansion. This move highlights Alphabet's plan of monetizing its cutting-edge AI projects. The London-based company, which was founded in 2021, was created to explore the commercial potential of AlphaFold, an AI program that predicts protein structures.
Strategic alliances
Partnerships with pharmaceutical giants
Isomorphic Labs has already partnered with pharmaceutical giants Johnson & Johnson as well as Eli Lilly & Co. It has also announced a deal to expand its collaboration with Novartis.