Isomorphic Labs

AI Drug Discovery · Biotech · Venture Capital

Funding

Isomorphic Labs reportedly in talks to raise $5B at $50B valuation

The AI drug designer would be priced ahead of any human trial, with investors betting on protein-folding science rather than clinical proof.

• Isomorphic Labs is in early-stage talks to raise roughly $5 billion at a valuation of about $50 billion, Bloomberg reported, with terms still subject to change and no lead investor yet named.
• Spun out of Google DeepMind in 2021, Isomorphic Labs uses its IsoDDE platform, built on the AlphaFold protein-structure model, to design drug candidates for cancer and immune disorders.
• CEO Demis Hassabis, who won the 2024 Nobel Prize in Chemistry for AlphaFold, has said the company expects its first clinical trials to begin by the end of 2026, in oncology.
• The company raised $600M in its first outside round in 2025 and a $2.1B Series B in May 2026, both led by Thrive Capital; a closed $5B round would bring total funding to about $7.7B in under two years.
• Partnerships with Eli Lilly (up to $1.7B in milestones) and Novartis (up to $1.2B-$2.9B depending on the report) are Isomorphic's closest thing to revenue, paid only if drug candidates clear specific hurdles.
• The reported valuation would be roughly 13x that of Chai Discovery ($3.8B) and over 60x Basecamp Research ($800M), two other AI drug-discovery startups that raised this year.
• Pricing a company at $50 billion before it has tested a single drug in humans signals investors are now underwriting AI drug discovery on pharma's decade-long timelines, not typical software cycles.