OpenAI researcher Miles Wang in talks to launch 2 billion dollar AI drug discovery startup
OpenAI researcher Miles Wang is reportedly in talks to raise funding for a new AI-driven drug discovery startup that could reach a valuation of 2 billion dollars.
1. New AI Drug Discovery Startup
OpenAI researcher Miles Wang is reportedly preparing to leave the company to launch a startup focused on AI-driven drug discovery. Sources indicate that Wang is in discussions to raise approximately $200 million, which would value the new venture at $2 billion. Lightspeed is reportedly in talks to lead the funding round. While Wang has disputed the specific figures and descriptions of the company provided in reports, he confirmed he is moving forward with his plans. The startup is expected to focus on identifying new applications for existing, FDA-approved drugs, a strategy that could potentially accelerate the path to revenue compared to traditional drug development.
2. Industry Context and Trends
The move highlights significant investor interest in applying artificial intelligence to the life sciences sector. The field has seen substantial capital inflows recently, with other companies securing major funding rounds. For instance, Chai Discovery, co-founded by former OpenAI researcher Josh Meier, recently raised $400 million at a $3.8 billion valuation to develop models for predicting molecular interactions. Additionally, Isomorphic Labs, a spinout of Google DeepMind, secured $2.1 billion in a Series B round this past May.
3. OpenAI Hardware Development
Separately, reports indicate that OpenAI is developing its first hardware product, described as a mobile, screenless smart speaker. The device is intended to function as a "humanlike AI companion" capable of proactively learning from its owner and accessing personal data such as emails. The project reportedly involves former Apple engineers. This development occurs amid ongoing legal tension, as Apple recently filed a lawsuit against OpenAI alleging the theft of trade secrets. OpenAI has denied these allegations, and sources suggest the company believes its new hardware project is distinct enough from existing market offerings to avoid trade secret violations.