Isomorphic Labs nets $600M in first external funding round

A UK startup spun out of Google DeepMind focusing on leveraging AI to help drug discovery has raised $600 million, marking its first external funding round.

The funding round in Isomorphic Labs was led by Open AI-backer Thrive Capital with funding from Alphabet and Google’s venture arm, Google Ventures.

The funding underscores Google’s ambition for Isomorphic Labs, which was founded in 2021 as a spin-off from Google DeepMind, which Google acquired in 2014.

Isomorphic Labs is built on software that DeepMind has developed, including its Nobel Prize-winning AlphaFold, which predicts protein structures.

Isomorphic Labs founder and CEO Demis Hassabis said: “This funding will further turbocharge the development of our next-generation AI drug design engine, help us advance our own programs into clinical development, and is a significant step forward towards our mission of one day solving all diseases with the help of AI.”

Isomorphic Labs is researching treatments for cancer and immune disorders.

Last year, it signed research partnerships with two major drug firms, Eli Lilly and Novartis.

Joshua Kushner, founder, CEO, Thrive Capital, said: “At Thrive, we aim to invest in category-defining companies with singular conviction, and that has led us to Isomorphic Labs. We believe Isomorphic has earned a rare position to define a new age of drug discovery and design, and we are deeply inspired by their mission and the extraordinary progress they have made to date.”

Doctor Krishna Yeshwant, managing partner, Google Ventures, said: “AI and machine learning have long held the promise of transforming drug discovery, yet few companies over the past decade have unlocked their full potential.

“After witnessing the extraordinary pace of innovation at Isomorphic Labs, we believe their pioneering approach will redefine AI-powered drug discovery.

 “With Sir Demis Hassabis at the helm, Isomorphic has assembled an exceptional team at the intersection of life sciences and technology. We’re proud to support them as they advance the development of new treatments for patients.”

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