Miles Wang, an OpenAI researcher whose work has included studying how AI can accelerate scientific and biological discovery, is leaving OpenAI to start a new company focused on developing AI models for drug discovery, four people familiar with his plans told reporters. Several other OpenAI researchers are expected to join the new firm.
Funding talks and valuation
Two sources said Wang is in talks to raise about $200 million at a $2 billion valuation. According to those sources, Lightspeed is in discussions to lead the funding round. Talks are ongoing, the deal is not final and details may change.
Wang disputed the story's funding figures and its description of the company, but he did not provide alternative numbers or further details. Lightspeed did not respond to a request for comment.
Why it matters: investor interest in life sciences AI
The reported financing discussions reflect investor interest in applying AI to achieve breakthroughs in life sciences. Recently, Chai Discovery, a two-year-old startup building AI models to predict molecular interactions and identify new drugs, announced a $400 million raise at a $3.8 billion valuation. Separately, Isomorphic Labs, a Google DeepMind spinout also focused on AI-driven drug discovery, raised a $2.1 billion Series B in May.
Possible focus: drug repurposing
Several sources told reporters that Wang's new company may work on AI models to find new uses for existing drugs and potentially reevaluate drugs that previously failed in trials. Repurposing FDA-approved drugs can often lead to much faster time to revenue than developing new drugs from scratch, because safety testing has already been completed for those medicines.
Wang's background
Miles Wang joined OpenAI in 2024 after leaving Harvard, where he had been studying for a bachelor's degree in computer science. At OpenAI he co-authored research papers including work evaluating how AI models can automate and accelerate scientific discovery.
