OpenAI researcher Miles Wang is in talks to launch a $2 billion AI drug discovery startup

Miles Wangan OpenAI researcher whose work involves using artificial intelligence to accelerate scientific and biological discoveries, is leaving the maker of ChatGPT to launch a new startup focused on developing AI models for drug discovery, according to four people with knowledge of his plans. Many other OpenAI researchers are expected to join the new company.

Wang is in talks to raise about $200 million at a valuation of $2 billion, two of the people said. Lightspeed is in discussions to lead the funding round, according to the people. Talks are ongoing, the deal may not be final and details may change.

Wang disputed the story’s funding numbers and company description but did not specify the correct numbers or details. Lightspeed did not respond to a request for comment.

Funding discussions indicate investor interest in applying AI to achieve breakthroughs in life sciences. Chai Discovery, a two-year-old startup that develops artificial intelligence models that can predict molecular interactions to identify new drugs, announced on Tuesday that it has raised… 400 million dollars With a value of $3.8 billion. (Co-founder Josh Mayer also went through OpenAI as a researcher.) Meanwhile, Google DeepMind spin-off Isomorphic Labs, which is also developing AI models for drug discovery, has sparked significant interest. $2.1 billion Series B in May.

Wang’s new startup may be working on artificial intelligence models that will help find new uses for existing drugs and perhaps those that have previously failed in trials, two sources told TechCrunch. Finding new uses for FDA-approved drugs can generate revenue much faster than developing new drugs from scratch, since those drugs have already been tested for safety.

Wang joined OpenAI in 2024 after leaving Harvard University where he was working toward a bachelor’s degree in computer science. (In recent years, investors have become comfortable again betting on young founders who… Didn’t finish college.)

At OpenAI, he has co-authored research papers, including evaluating how to automate AI models and acceleration Scientific discovery.