IMPLICATOR
OpenAI researcher Miles Wang is in talks to raise about $200 million for a new AI drug discovery startup, TechCrunch reported Tuesday, citing four people with knowledge of his plans. Wang disputed both the financing figures and the description of the company but did not provide different terms or details. The discussions would value the company at $2 billion, with Lightspeed discussing a lead role, according to the account.
Several other OpenAI researchers are expected to join Wang, the people told the outlet. Lightspeed did not respond to the outlet's request for comment.
What Changed
- TechCrunch says Miles Wang is discussing a $200 million raise at a $2 billion valuation; Wang disputes the account.
- Sources say the startup may use AI to repurpose approved medicines or candidates that failed earlier trials.
- Chai raised $400 million at $3.8 billion the same day; Isomorphic Labs secured $2.1 billion in May.
- Immunai CEO Noam Solomon says clinical trials remain the decade-long, $2.7 billion bottleneck.
AI-generated summary, reviewed by an editor. More on our AI guidelines.
Two Sources Describe the Drug Strategy
Two sources told the outlet that the startup may develop models that find new uses for existing drugs, including some that failed in earlier trials. The account added that prior safety testing for approved medicines can shorten the path to revenue.
Wang joined OpenAI in 2024 after leaving Harvard before completing his computer science degree. At OpenAI, he co-authored research that included a wet-lab evaluation in which GPT-5 proposed changes to a molecular cloning protocol while human scientists performed the experiments and returned the results to the model.
In December, OpenAI reported a 79-fold efficiency improvement in that specific cloning setup after several experimental rounds. The company cautioned that the results were specific to its model system and still required scientists to execute each protocol. Researchers confirmed the resulting clones by sequencing. The reported result measured cloning efficiency in the controlled setup; the experiment did not produce a drug candidate.
Chai Raises $400 Million the Same Day
The July 14 exclusive appeared the same day that Chai Discovery announced a $400 million Series C at a $3.8 billion valuation. Index Ventures led that round, and Chai's announcement named Eli Lilly and Pfizer among the pharmaceutical companies using its molecular-design models. The company has also announced a collaboration with Novartis. The Series C brought Chai's total funding to about $630 million, following a $130 million round in December.
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Isomorphic Labs, the drug-design company spun out of Google DeepMind, raised $2.1 billion on May 12 to expand its models and therapeutic programs. Founded in 2021, Isomorphic's release said it is advancing partnered programs and its own drug portfolio. Thrive Capital led the round, with Alphabet and GV among the existing investors that participated.
Chai and Isomorphic describe their models as tools for selecting or designing molecules before human trials. Dr. Noam Solomon, founder and CEO of Immunai, discussed that stage in a July 12 Calcalist interview about Anthropic's separate drug program, not Wang's plans.
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“Drug discovery is a ‘lighter’ problem in the food chain of bringing a drug to market,” Solomon told the publication. “The harder problem is making drugs succeed in clinical trials.” He said clinical development takes about a decade on average, costs roughly $2.7 billion and ends in failure for more than 90% of trials.
Company Name and Launch Date Remain Undisclosed
The exclusive did not identify a company name or a launch date. No other prospective employees were named, and neither Wang nor Lightspeed has announced a financing.
Wang did not supply corrected financing figures when he challenged the account, and no revised valuation has been disclosed. The account described the discussions as ongoing and said the terms and company details could change before any financing is completed.
Frequently Asked Questions
Who is Miles Wang?
Wang joined OpenAI in 2024 after leaving Harvard before completing his computer science degree. He co-authored research that included a GPT-5 wet-lab evaluation involving a molecular cloning protocol.
Has Wang's startup completed the $200 million round?
No. TechCrunch described ongoing talks that could change and said Lightspeed was discussing a lead role. Wang disputed the reported financing figures and the description of the company without providing alternatives.
What would the startup build?
Two sources said it may develop AI models that find new uses for approved drugs and possibly candidates that failed earlier trials. No company name or launch date was reported.
Why focus on repurposing existing drugs?
Approved medicines already have safety data, which can shorten part of the development path. Repurposing does not eliminate the need to establish that a medicine works for its proposed new use.
How does the proposed company compare with Chai and Isomorphic Labs?
Wang's company remains unannounced. Chai raised $400 million at a $3.8 billion valuation on July 14, while Isomorphic Labs announced a $2.1 billion round on May 12 and already has therapeutic programs.
AI-generated summary, reviewed by an editor. More on our AI guidelines.
Marcus Schuler
Editor-in-Chief and founder of Implicator.ai. Former ARD correspondent and senior broadcast journalist with 10+ years covering tech. Writes daily briefings on policy and market developments. Based in San Francisco. E-mail: editor@implicator.ai
