London-based Isomorphic Labs announced today it has secured $600 million in its first external funding round to further develop its AI-powered drug design technology and advance therapeutic programs into clinical trials. The financing round was led by Thrive Capital, with participation from GV and follow-on capital from existing investor Alphabet.

Key Points

• Founded by AI pioneer Sir Demis Hassabis, Isomorphic Labs develops AI models for drug discovery
• Company released AlphaFold 3 in May 2024 with Google DeepMind, predicting molecular structures
• Funding will accelerate AI research and expand therapeutic programs in oncology and immunology
• Existing pharmaceutical partnerships include Eli Lilly and Novartis

The substantial investment underscores growing confidence in AI's potential to transform pharmaceutical research, an industry traditionally plagued by high costs and lengthy development timelines.

"We're excited to bring together a top-tier investor group with deep AI and life sciences expertise as we aim to transform this industry through an interdisciplinary approach," said Isomorphic Labs founder and CEO, Sir Demis Hassabis. "This funding will further turbocharge the development of our next-generation AI drug design engine, help us advance our own programs into clinical development, and is a significant step forward towards our mission of one day solving all disease with the help of AI."

Since its founding in 2021, Isomorphic Labs has developed multiple AI models that form its unified drug design engine, working across various therapeutic areas and drug modalities. One of the company's breakthrough technologies is AlphaFold 3, developed jointly with Google DeepMind, which can accurately predict the structure and interactions of biological molecules with unprecedented precision.

The company has already established collaborative programs with pharmaceutical giants Eli Lilly and Novartis, while developing its own internal drug discovery portfolio primarily focused on oncology and immunology. Notably, Novartis recently expanded its collaboration with Isomorphic Labs just over a year after initiating the partnership.

"At Thrive, we aim to invest in category-defining companies with singular conviction, and that has led us to Isomorphic Labs," said Joshua Kushner, Founder and CEO of Thrive Capital. "We believe Isomorphic has earned a rare position to define a new age of drug discovery and design, and we are deeply inspired by their mission and the extraordinary progress they have made to date."

The new funding will accelerate the company's AI research and development efforts, enabling faster advancement of its drug design technology. Additionally, Isomorphic Labs plans to expand its team of specialists as part of its growth strategy.

Dr. Krishna Yeshwant, Managing Partner at GV, highlighted the company's distinctive approach: "AI and machine learning have long held the promise of transforming drug discovery, yet few companies over the past decade have unlocked their full potential. After witnessing the extraordinary pace of innovation at Isomorphic Labs, we believe their pioneering approach will redefine AI-powered drug discovery."

The round signals investor confidence in the growing intersection of AI and biotech — a space that has long promised faster, cheaper drug development but has struggled to deliver consistent results. Isomorphic Labs, with its technical pedigree and strategic partnerships, now finds itself in a leading position to turn that promise into clinical reality.