AI Drug Discovery Startup Gets Cash Boost From Google London-based AI-focused drug discovery startup Isomorphic Labs, owned by Google DeepMind, has raised $2.1 billion in financing to grow its artificial intelligence-based platform for developing medicines.
The fundraising is one of the largest financings in the still-nascent field of AI in healthcare and speaks to the increasing expectations for the future of AI-designed pharmaceuticals.
Rise of AI-Driven Drug Discovery Firms
Isomorphic Labs, which was co-founded in 2021 by DeepMind CEO Demis Hassabis, is developing advanced artificial intelligence to accelerate the development of new medicines.
Isomorphic Labs is looking to build on the success of DeepMind’s breakthrough AlphaFold algorithm, in order to change how scientists design new medicines and pave the way for a future in which AI designs drugs.
The new capital will be used to:
- Expand globally its AI drug design platform
- Develop additional partnerships in the pharmaceutical industry
- Accelerate development of AI-designed drug candidates
- Hire more AI and biomedical researchers
- Move closer to conducting human clinical trials
“The mission of my company is to improve human health through artificial intelligence,” said Demis Hassabis.
AI Healthcare Continues to See Investor Interest
Thrive Capital led the Series B fundraise, with participation from several significant global investors, including:
- Alphabet
- MGX (Abu Dhabi)
- Temasek (Singapore)
- The UK Sovereign AI Fund
The strong interest from investors underscores the growing significance of artificial intelligence in fostering innovation in the biotechnology and pharmaceutical sectors.
AI Drug Discovery Company to Begin Human Trials
Isomorphic Labs has already formed partnerships with a handful of top pharma companies, including Eli Lilly, Johnson & Johnson, and Novartis, to develop AI-powered drug discovery programs.
Executives at the company have said Isomorphic Labs is nearing the point at which some of its AI-designed drugs can enter human clinical trials – a milestone for the industry.
If AI succeeds, it could help the pharmaceutical industry to:
- Shorten the time required for drug discovery
- Reduce research costs
- Lower the failure rate during drug development
The pharmaceutical industry spends billions of dollars and over a decade to develop new medicines.
AI to Change Medicine
Isomorphic Labs uses state-of-the-art machine learning algorithms trained on huge biological databases to predict molecular interactions and design possible drugs at a speed that is far superior to traditional methods.
Earlier, Isomorphic Labs unveiled its newest Drug Design Engine, which reportedly offers better predictions for protein-ligand interactions than previous generations of AlphaFold software.
Artificial intelligence could eventually revolutionize treatment for:
- Cancer
- Brain diseases
- Rare genetic conditions
- Long-term diseases
- Inherited disorders
Industry observers see artificial intelligence as one of the most disruptive technologies in healthcare over the next decade.
Rivalry Heats Up Among AI Biotech Firms
Isomorphic Labs competes with other emerging AI biotech companies, including:
Technology and pharmaceutical companies are quickly deploying more powerful research tools driven by artificial intelligence as the AI-driven drug development race intensifies across the world.
Future of Artificial Intelligence in Drug Discovery
The current fundraising makes Isomorphic Labs one of the most promising players at the intersection between artificial intelligence and biotechnology.
As AI systems gain greater capabilities in understanding the inner workings of living things at the molecular level, analysts believe AI could fundamentally change how the pharmaceutical industry conducts research and development and accelerate the time from discovery to treatment of diseases.
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