OpenAI researcher Miles Wang in talks to launch AI drug discovery startup valued at $2B
Wang is reportedly seeking $200 million at a $2 billion valuation, with Lightspeed leading the round, though he has disputed specific figures.
Miles Wang, an artificial intelligence researcher at OpenAI, is preparing to leave the company to establish a new venture focused on drug discovery. According to individuals with knowledge of the plans, Wang is in discussions to raise approximately $200 million at a valuation of $2 billion. Lightspeed is reportedly leading the funding round, although talks are ongoing and the deal remains subject to change. Several other OpenAI researchers are expected to join the new enterprise.
Wang has disputed the reported funding figures and the description of the company provided in earlier reports, though he did not offer specific corrections or alternative numbers. Lightspeed did not immediately respond to requests for comment regarding the potential investment. The discussions highlight growing investor appetite for applying artificial intelligence to accelerate breakthroughs in the life sciences sector.
The new startup is believed to focus on identifying new therapeutic applications for existing drugs, including those that have previously failed clinical trials. This approach, known as drug repurposing, can significantly reduce the time to revenue compared to developing new medicines from scratch, as the safety profiles of these drugs have already been established by regulatory bodies such as the US Food and Drug Administration.
Wang joined OpenAI in 2024 after withdrawing from Harvard University, where he was pursuing a bachelor’s degree in computer science. During his tenure, he co-authored research papers evaluating how artificial intelligence models can automate and accelerate scientific discovery. His departure underscores a broader trend of investors backing young founders who have not completed their tertiary education.
The move comes amid heightened competition for top talent in the AI-driven biotech space. Chai Discovery, a startup developing models to predict molecular interactions, recently raised $400 million at a $3.8 billion valuation. Similarly, Isomorphic Labs, a spinout from Google DeepMind, secured a $2.1 billion Series B funding round in May. These transactions demonstrate the substantial capital flowing into ventures aiming to leverage artificial intelligence for pharmaceutical innovation.
