The organisation plans to use the investment as a means of accelerating the application of its AI model at scale.
AI-powered drug design and development company Isomorphic Labs has announced a raise of $2.1bn in Series B funding. The round was led by Thrive Capital and includes participation from existing backers Alphabet and GV alongside new investors MGX, Temasek, CapitalG and the UK Sovereign AI Fund.
Founded in 2021 and led by CEO Demis Hassabis and its president Max Jaderberg, Isomorphic Labs is headquartered in London and has additional premises in Cambridge, Massachusetts and Lausanne, Switzerland. The company, which is a spin-off from Google DeepMind – an AI research lab acquired by Alphabet in 2014 – aims to address the challenges of drug discovery using AI technology.
Isomorphic labs intends to put the recently raised funds towards the continued development and deployment of its AI drug design engine (ISODDE) and the acceleration and expansion of its pipeline of therapeutic programmes. Additionally, the funding will support current hiring targets.
Commenting on the announcement Ruth Porat, the president and chief investment officer at Alphabet and Google, said: “The application of AI in healthcare offers a profound opportunity.
