Miles Wangan OpenAI researcher whose work involves using artificial intelligence to accelerate scientific and biological discovery is leaving the maker of ChatGPT to launch a new startup focused on developing AI models for drug discovery, according to four people familiar with his plans. Several other OpenAI researchers are expected to join the new company.
Wang is in talks to raise about $200 million at a $2 billion valuation, two of the people said. Lightspeed is in talks to lead the funding round, according to sources. Talks are ongoing, the deal may not be final, and details are subject to change.
Wang disputed the story’s funding figures and description of the company, but did not specify the exact numbers or details. Lightspeed did not respond to a request for comment.
Funding discussions indicate investor interest in applying artificial intelligence to achieve innovations in the life sciences. Chai Discovery, a two-year-old startup that develops artificial intelligence models that can predict molecular interactions to identify new drugs, announced Tuesday that it has raised 400 million dollars at a valuation of $3.8 billion. (Co-founder Josh Meier also moved on from OpenAI as a researcher.) Meanwhile, Google DeepMind spinout Isomorphic Labs, which also develops AI models for drug discovery, set a 2.1 billion dollars Series B in May.
Wang’s new startup may be working on artificial intelligence models that will help find new uses for existing drugs and possibly those that previously failed trials, multiple sources told TechCrunch. Finding new uses for FDA-approved drugs can lead to a significantly faster time to revenue than developing new drugs from scratch, since those drugs have already been tested for safety.
Wang joined OpenAI in 2024 after dropping out of Harvard, where he was working toward a degree in computer science. (In recent years, investors have again become comfortable betting on young founders who haven’t finished college.)
At OpenAI, he authored research papers including evaluating how AI models can automate and accelerate scientific discovery.
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