Miles Wang, an OpenAI researcher known for work applying AI to scientific and biological discovery, is leaving the company to start a new venture focused on AI models for drug discovery, according to people familiar with his plans. Several other OpenAI researchers are expected to join him.
Wang is reportedly in talks to raise approximately $200 million at a $2 billion valuation, with Lightspeed said to be in discussions to lead the round, though the deal has not been finalized. Wang disputed the reported funding details but did not offer alternative figures.
The talks reflect growing investor interest in AI-driven life sciences research. The news follows AI drug-discovery startup Chai Discovery’s announcement of a $400 million raise at a $3.8 billion valuation, and Isomorphic Labs, a Google DeepMind spinout, closing a $2.1 billion Series B earlier this year.
Sources indicated Wang’s startup may focus on identifying new applications for existing or previously failed drugs, an approach that could offer faster paths to revenue than developing entirely new treatments, since such drugs have already undergone safety testing.
Wang joined OpenAI in 2024 after leaving Harvard, where he was studying computer science, and co-authored research on using AI to accelerate scientific discovery in laboratory settings.
Featured image: Credit: Miles Wang
