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OpenAI researcher Miles Wang in talks to launch AI drug discovery startup valued at $2B
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Miles Wang, an OpenAI researcher known for applying artificial intelligence to scientific discovery, is leaving the ChatGPT maker to launch a new startup focused on AI-driven drug discovery, according to four sources familiar with his plans. The venture is reportedly in talks to raise approximately $200 million at a valuation of $2 billion, with Lightspeed leading the funding round. Wang disputed these figures but declined to provide specifics, while Lightspeed did not respond to requests for comment.
Wang joined OpenAI in 2024 after dropping out of Harvard University, where he was pursuing a bachelor's degree in computer science. At OpenAI, he co-authored research papers evaluating how AI models can automate and accelerate scientific discovery. Several other OpenAI researchers are expected to join his new company, signaling a potential talent drain from the ChatGPT maker.
The funding discussions underscore intensifying investor interest in applying AI to life sciences. Chai Discovery, a two-year-old startup developing AI models to predict molecular interactions, recently raised $400 million at a $3.8 billion valuation. Similarly, Google DeepMind's spinout Isomorphic Labs secured $2.1 billion in Series B funding in May for its AI-driven drug discovery platform.
Wang's new startup may focus on repurposing existing drugs and drugs that previously failed in clinical trials, sources told TechCrunch. This approach could yield faster time to revenue, as these compounds have already passed safety testing with the FDA. By leveraging AI, the startup aims to identify new therapeutic uses for approved or shelved medications.
The involvement of Lightspeed, a prominent venture capital firm, highlights the potential of AI to transform drug development. Analysts note that AI models can analyze vast datasets to uncover drug interactions and mechanisms, significantly reducing the time and cost of bringing treatments to market.
Wang's decision to leave OpenAI follows a trend of top researchers founding their own AI startups. His youth—dropping out of Harvard before completing his degree—reflects a renewed investor appetite for founders with unconventional backgrounds. The startup's success could hinge on its ability to integrate AI with pharmaceutical expertise.
As the deal remains in negotiation, the final valuation and funding amount may change. However, the emergence of Wang's venture signals a growing race among AI startups to dominate the drug discovery space, with implications for patients awaiting new therapies.
