Isomorphic Labs in early talks for funding at a valuation of at least $40 billion
Bloomberg reports that Isomorphic Labs, the Alphabet-owned AI drug-discovery company spun out of Google DeepMind, is in early talks to raise new funding at a valuation of at least $40 billion. One source said the round could value the company as high as $50 billion. The financing has not closed, and its details could change. Isomorphic did not respond to a request for comment, according to the report.
The report says Isomorphic raised $2.1 billion in a Series B effort five months earlier, with CEO Demis Hassabis saying Alphabet provided a large part of that financing but declining to comment on the company’s valuation or Alphabet’s stake. Isomorphic was formed in 2021 to commercialize DeepMind’s AlphaFold work. It has partnerships with Eli Lilly and Novartis and plans to work on cancer and immune disorders, while also pursuing in-house drug design and development.
The funding talks are not evidence of clinical success. Bloomberg notes that few AI drug developers have advanced candidates to clinical trials and none have brought a medicine to market. The reported valuation and financing remain prospective.