OpenAI Researcher Miles Wang to Launch AI Drug Discovery Startup

Miles Wang, an OpenAI researcher known for his work in using AI to accelerate scientific and biological discovery, is planning to leave the ChatGPT maker to start a new company focused on AI models for drug discovery, according to four individuals familiar with his plans. Several other OpenAI researchers are also expected to join the venture. Wang is in discussions to raise about $200 million at a $2 billion valuation, two of the people said. Lightspeed is in talks to lead the funding round, according to sources. Talks are ongoing, and the deal may not be final, with details potentially changing. Wang disputed the story’s funding figures and description of the company but did not specify the correct numbers or details. Lightspeed did not respond to a request for comment.

The funding discussions highlight investor interest in applying AI to make breakthroughs in life sciences. Chai Discovery, a two-year-old startup developing AI models that can predict molecular interactions to identify new drugs, announced on Tuesday that it raised $400 million at a $3.8 billion valuation. (Co-founder Josh Meier also previously worked at OpenAI as a researcher.) Meanwhile, Google DeepMind spinout Isomorphic Labs, which also develops AI models for drug discovery, raised a $2.1 billion Series B in May. Wang’s new startup may be working on AI models that will help find new uses for existing drugs and possibly those that previously failed in trials, according to a couple of sources. Finding new uses for FDA-approved drugs can result in significantly faster time to revenue than developing new drugs from scratch, as these medicines have already been tested for safety.

Wang joined OpenAI in 2024 after dropping out from 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 who haven’t completed college.) At OpenAI, he co-authored research papers, including evaluating how AI models can automate and accelerate scientific discovery.

Source: techcrunch