OpenAI researcher Miles Wang announced his exit from the company to found a startup that will apply artificial‑intelligence techniques to drug discovery. Wang, whose work at OpenAI has centered on using AI to speed up scientific and biological research, is assembling a team that includes several other OpenAI scientists.
According to four people familiar with the plan, the new venture is in talks to raise roughly $200 million, which would value the company at about $2 billion. Lightspeed Venture Partners is reportedly in discussions to lead the financing, though the deal has not been finalized and details may shift.
Wang has pushed back on the reported funding numbers and the description of his company, saying the figures are inaccurate but not providing corrected data. Lightspeed declined to comment when approached for comment.
The fundraising effort reflects a broader surge of investor interest in AI‑driven life‑science ventures. In the past year, Chai Discovery, a two‑year‑old startup that builds AI models to predict molecular interactions, secured $400 million at a $3.8 billion valuation. Similarly, Isomorphic Labs, a spin‑out from Google DeepMind focused on drug discovery, closed a $2.1 billion Series B round in May.
Sources familiar with Wang’s plans say the startup will concentrate on AI models that identify new therapeutic uses for drugs already approved by the FDA and on reviving compounds that previously failed clinical trials. Repurposing existing medicines can dramatically shorten the path to market because safety profiles are already established.
Wang joined OpenAI in 2024 after leaving Harvard, where he was pursuing a bachelor’s degree in computer science. At OpenAI, he co‑authored several research papers that explored how AI can automate and accelerate scientific discovery.
Investors appear increasingly comfortable backing young founders who have not completed traditional academic pathways, a trend underscored by the sizable capital commitments to AI‑focused biotech startups this year.
This article was written with the assistance of AI.
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