Miles Wang has been working in OpenAI to accelerate scientific and biological findings using AI. According to the source, he was about to leave OpenAI and set up a new company focused on drug discovery.
The company is said to be negotiating about $200 million in financing, valued at about $2 billion. Lightspeed was referred to as a discussion lead, but the transaction had not yet been finalized and the terms could still change.
OpenAI researchers continue to flow to life sciences entrepreneurship, reflecting the rising interest of investors in AI pharmaceuticals. In the recent past, Chai Discovery and Isomorphic Labs have also disclosed significant amounts of financing.
According to the source, the new company may develop models to help find new uses of listed drugs or may cover drugs that have failed in the experiment. These directions are closer to commercialization than the development of new drugs from zero.
Wang joined OpenAI in 2024, after studying computer science at Harvard University. It was also mentioned that several OpenAI researchers were expected to join the new company.