Pathos AI

AI Drug Development · Oncology · Biotech

Funding

Pathos AI raises $237M Series E led by Bristol Myers Squibb

The deal immediately converts into exclusive access for Bristol Myers Squibb to run Pathos's AI engine across its own neuroscience pipeline.

• Pathos AI closed a $237 million Series E round at a roughly $3 billion post-money valuation, led by Bristol Myers Squibb with existing investors participating.
• Pathos AI is a clinical-stage company that uses Foundry, an agentic AI platform of thousands of specialized AI agents, to identify and steer its own oncology drug pipeline.
• On the same day, BMS took non-exclusive strategic access to Foundry across its broader R&D portfolio plus three-year exclusive rights in neuroscience, while Pathos agreed to pay Tempus AI $55 million over five years for a de-identified Alzheimer's patient dataset.
• Pathos's pipeline now has four clinical assets, including JSKN016, a TROP2/HER3 bispecific ADC licensed from Alphamab for $125 million upfront plus milestones up to $2.09 billion.
• The round follows a $365 million Series D in May 2025 and a $62 million Series C in October 2024, with Pathos building its clinical portfolio mainly through rapid licensing deals rather than in-house discovery.
• A major pharma acting as both lead investor and platform licensee shows drugmakers increasingly want to buy probability-of-success tooling from AI-native biotechs, not just their molecules.