Isomorphic Labs said on Wednesday that it has secured $2.1 billion in its latest funding round, led by existing investor Thrive Capital.
The financing round, completed at an undisclosed valuation, also included participation from existing investors GV and Alphabet, alongside new investors MGX, Temasek, and CapitalG.
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The development comes as the healthcare industry increasingly pushes to showcase real-world applications of artificial intelligence, particularly its potential to speed up research and development and reduce the time required for drug discovery.
“This capital injection allows us to build out our drug design engine at scale, driving us forward in our mission to solve all diseases,” said founder and CEO Demis Hassabis.
Isomorphic Labs was established in 2021 as a spin-off from Google DeepMind, the AI research lab acquired by Alphabet in 2014.
One of DeepMind and Demis Hassabis’ most notable breakthroughs was AlphaFold, an artificial intelligence program capable of predicting protein structures to help scientists develop drugs and target diseases more effectively.
“Now that we have shown our approach is fundamentally sound, our focus is on scaling our technology to its full potential,” said Hassabis.
The company now expects to begin its first clinical trials by the end of 2026, later than the chief executive’s earlier goal of advancing AI-designed drugs into trials by the end of 2025.
The London-based firm raised $600 million in its initial funding round last year, which was also led by Thrive Capital, a prominent investor in AI-focused companies.
The company did not immediately respond to a Reuters request seeking comment on its valuation.
