Miles Wang, an OpenAI researcher whose work includes using AI to accelerate scientific and biological discovery, is leaving the ChatGPT maker to launch a new startup focused on developing AI models for drug discovery, according to four people familiar with his plans. Several other OpenAI researchers will join the new company.
Mr. Wang is in talks to raise about $200 million at a valuation of $2 billion, two people familiar with the matter said. Lightspeed is in talks to lead the funding round, the people said. Negotiations are ongoing, but the agreement may not be final and details are subject to change.
Wang disputed the article’s funding amount and company description, but declined to provide exact numbers or details. Lightspeed did not respond to a request for comment.
The funding discussions show that investors are interested in applying AI to realize breakthroughs in life sciences. Chai Discovery, a two-year-old startup that develops AI models that can predict molecular interactions to identify new drugs, announced Tuesday that it has raised $400 million at a valuation of $3.8 billion. (Co-founder Josh Meyer also went through OpenAI as a researcher.) Meanwhile, Google DeepMind spinout Isomorphic Labs, which also develops AI models for drug discovery, raised $2.1 billion in Series B funding in May.
Wang’s new startup may be working on AI models that can help find new uses for existing drugs and perhaps drugs that have previously failed in clinical trials, several sources told TechCrunch. Finding new uses for FDA-approved drugs can generate revenue much faster than developing a new drug from scratch because these drugs have already been tested for safety.
Wang joined OpenAI in 2024 after dropping out of Harvard University and pursuing a bachelor’s degree in computer science. (In recent years, investors have again become comfortable betting on young founders who don’t graduate from college.)
At OpenAI, he co-authored a research paper that included an evaluation of how AI models can automate and accelerate scientific discovery.
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