May 12 - Isomorphic Labs, a company using artificial intelligence to advance drug discovery, announced on Wednesday that it has closed a $2.1 billion funding round led by existing investor Thrive Capital. The financing, completed at an undisclosed valuation, also saw participation from existing backers Google Ventures and Alphabet, alongside new investors MGX, Temasek and CapitalG.
The company said the fresh capital will be directed toward building its drug design engine at scale. In a statement, founder and CEO Demis Hassabis said the funding "allows us to build out our drug design engine at scale, driving us forward in our mission to solve all diseases."
Isomorphic was launched in 2021 as a spin-off from Google DeepMind, the AI research lab that became part of Alphabet in 2014. One of DeepMind and Hassabis' most notable developments is AlphaFold, an AI system capable of predicting protein structures, a capability that can aid scientists in designing drugs and targeting disease mechanisms.
Hassabis added that after demonstrating the fundamental soundness of the company's approach, the current focus is on scaling the technology to its full potential: "Now that we have shown our approach is fundamentally sound, our focus is on scaling our technology to its full potential."
The company now expects its first clinical trials to begin by the end of 2026, moving that milestone back from an earlier target of having AI-designed drugs in trials by the end of 2025.
Isomorphic, which is based in London, previously raised $600 million in its initial funding round last year, a round that was also led by Thrive Capital.
The company did not immediately respond to a request for comment on the valuation.
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