Alphabet's AI Drug Discovery Spin-off Isomorphic Labs Secures $600M in Landmark Funding Round

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On Mon, 31 Mar, 4:05 PM UTC

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Isomorphic Labs, the AI-driven drug discovery platform spun out from Google's DeepMind, has raised $600 million in its first external funding round, led by Thrive Capital. The investment aims to accelerate AI-powered drug development and bring AI-designed drugs to clinical trials.

Isomorphic Labs Secures $600M in Landmark Funding Round

Isomorphic Labs, the AI-driven drug discovery platform spun out from Google's DeepMind in 2021, has raised $600 million in its first external funding round. The investment was led by Thrive Capital, with participation from GV and existing investor Alphabet 12. This significant funding injection marks a major milestone for the company and underscores the growing interest in AI-powered drug discovery.

Strategic Partnerships and Nobel Recognition

Prior to this funding round, Isomorphic Labs had already made significant strides in the pharmaceutical industry. In 2024, the company secured strategic partnerships with pharmaceutical giants Eli Lilly and Novartis, potentially generating up to $3 billion in milestone payments for access to its AI model 1. The company's founder, Demis Hassabis, along with DeepMind researcher John Jumper, received a Nobel Prize in chemistry in 2024 for their work on AlphaFold, an AI model that predicts the three-dimensional structures of proteins 14.

Accelerating AI-Powered Drug Discovery

The substantial funding will be used to accelerate the development of Isomorphic's AI drug design engine and support the company's ambitious goal of bringing AI-discovered drugs to clinical trials 1. Demis Hassabis, who serves as both the founder and CEO of Isomorphic Labs, has suggested that the company aims to have AI-designed drugs in clinical trials by the end of 2025 34.

Expanding Research and Talent Acquisition

While Isomorphic Labs didn't necessarily need the capital, according to Hassabis, the extra funding will help the company hire top research scientists and expand its team 14. The investment will also be used to accelerate AI research and development in drug design, furthering the company's mission of "solving all disease with the help of AI" 45.

Industry Impact and Future Prospects

The funding round for Isomorphic Labs is among the largest for a UK AI company and reflects the broader trend of significant investments in AI-driven drug discovery startups. Other notable raises in the past year include Xaira Therapeutics securing a $1 billion Series A and Formation Bio locking up $372 million in a Series D 5.

Financial Details and Ownership Structure

While the exact valuation of Isomorphic Labs was not disclosed, Alphabet remains the majority shareholder following this funding round 4. In its first full year of operations in 2023, the company reported losses of £60 million, up from £17 million a year earlier, with R&D costs growing to £49 million and staff costs tripling to £20 million 4.

As the race to leverage AI in drug discovery intensifies, Isomorphic Labs' substantial funding and strategic partnerships position it as a key player in this rapidly evolving field. The company's progress will be closely watched as it works towards its goal of revolutionizing drug development through artificial intelligence.

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