Miles WangThe OpenAI researcher, whose work includes using artificial intelligence to accelerate scientific and biological discoveries, is leaving its maker ChatGPT to launch a new startup focused on developing artificial intelligence models for drug discovery, according to four people familiar with its plans. Several more OpenAI researchers are expected to join the new company.
Wang is in talks to raise about $200 million at a $2 billion valuation, the two people said. According to sources, Lightspeed is in discussions to lead the funding round. Negotiations are ongoing, the agreement may not be final and the details may change.
Wang disputed the story’s funding figures and description of the company, but did not provide exact numbers or details. Lightspeed did not respond to a request for comment.
Funding discussions point to investor interest in applying artificial intelligence to make breakthroughs in the life sciences. Chai Discovery, a two-year-old startup developing artificial intelligence models that can predict molecular interactions to identify new drugs, announced Tuesday. 400 million dollars It was valued at 3.8 billion dollars. (Co-founder Josh Meier also came through OpenAI as a researcher.) Meanwhile, Google DeepMind spinout Isomorphic Labs, which also develops AI models for drug discovery, 2.1 billion dollars Series B in May.
Several sources told TechCrunch that Wang’s new startup is working on artificial intelligence models to help find new uses for existing drugs and perhaps those that have previously failed trials. Finding new uses for FDA-approved drugs can generate revenue faster than developing new drugs from scratch because these drugs have already been tested for safety.
Wang joined OpenAI in 2024 after leaving Harvard, where he was working on a bachelor’s degree in computer science. (In recent years, investors are once again comfortable betting on young founders did not graduate from college.)
At OpenAI, he explores how AI models can be automated and speed up scientific discovery.
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