OpenAI researcher Miles Wang eyes $2B AI drug discovery startup
Former OpenAI researcher reportedly seeks funding for new AI biotech venture
OpenAI researcher Miles Wang is reportedly leaving the ChatGPT maker to launch an artificial intelligence startup focused on drug discovery, with the new venture said to be targeting a $2 billion valuation as it seeks fresh funding.
According to TechCrunch, Wang is in discussions to raise around $200 million, with venture capital firm Lightspeed reportedly in talks to lead the investment round. The negotiations are ongoing and may still change.
Funding talks highlight growing AI healthcare investment
The reported fundraising reflects continued investor enthusiasm for AI-powered life sciences. However, Wang disputed the report's funding figures and the description of his company, though he did not provide alternative details. Lightspeed declined to comment.
Interest in AI drug discovery has accelerated in recent months. On the same day, Chai Discovery announced a $400 million funding round at a $3.8 billion valuation, while Isomorphic Labs, a Google DeepMind spinout focused on AI drug development, secured $2.1 billion in Series B financing earlier this year.
Startup may focus on repurposing existing medicines
Sources familiar with the plans told TechCrunch that Wang's startup could develop AI models capable of identifying new therapeutic uses for existing medicines, including drugs that previously failed in clinical trials.
Repurposing FDA-approved medicines can significantly reduce development time because their safety profiles have already been established, potentially bringing treatments to patients faster than developing entirely new drugs.
Wang joined OpenAI in 2024 after leaving Harvard University, where he had been studying computer science. During his time at the company, he co-authored research examining how AI can accelerate scientific and biological discovery.
