OpenAI’s Miles Wang Engages in Discussions to Establish $2 Billion AI-Powered Drug Discovery Venture
Miles Wang, a researcher at OpenAI noted for his contributions to utilizing AI in scientific and biological explorations, is departing from the company to establish a new startup aimed at creating AI models for drug development. Several colleagues from OpenAI are anticipated to join him in this venture.
According to sources familiar with the situation, Wang is negotiating to secure approximately $200 million at a valuation of $2 billion. It is reported that Lightspeed is in talks to spearhead this funding round, although these discussions are still ongoing, and details may evolve.
Wang has contested the reported funding figures and the characterization of his new enterprise but has not provided clarified numbers or specifics. Lightspeed has not responded to inquiries regarding the situation.
These funding negotiations indicate a growing interest from investors in leveraging AI technology to achieve advancements in life sciences. Recently, Chai Discovery, a startup that has been operational for two years and creates AI models to predict molecular interactions for new drug identification, revealed that it has raised $400 million at a valuation of $3.8 billion. Notably, Josh Meier, a co-founder of Chai Discovery, also previously worked at OpenAI as a researcher. Meanwhile, Isomorphic Labs, a spin-off from Google DeepMind concentrating on AI models for drug discovery, secured $2.1 billion in a Series B funding round in May.
Sources indicate that Wang’s new startup may focus on developing AI models designed to uncover new applications for existing medications, including those that previously did not succeed in clinical trials. Exploring new indications for FDA-approved drugs can facilitate quicker revenue generation compared to creating entirely new drugs, as these approved medications have already undergone safety evaluations.
Wang joined OpenAI in 2024 after leaving Harvard, where he was pursuing a degree in computer science. In recent years, investors have regained confidence in funding young entrepreneurs who have not completed their college education.
During his tenure at OpenAI, Wang contributed to multiple research publications, focusing on how AI models can enhance and expedite scientific discovery.
