Isomorphic Labs raises $2.1B

Isomorphic Labs said on May 12 that it raised $2.1 billion in a Series B financing round, giving one of the highest-profile AI drug discovery companies a large new pool of capital to expand its technology and drug pipeline. The London-based company said Thrive Capital led the round, with Alphabet and GV returning as backers and MGX, Temasek, CapitalG and the UK Sovereign AI Fund joining as new investors. (isomorphiclabs.com) Reuters reported on May 12 that the company did not disclose its valuation. Isomorphic said the money will be used to scale its AI drug design engine, expand the business globally and advance its drug candidate pipeline. (finance.yahoo.com) The financing follows a $600 million external funding round announced on March 31, 2025, also led by Thrive Capital with participation from GV and Alphabet. That earlier raise was the company’s first outside capital round. ### Who backed the round, and how does it compare with Isomorphic’s earlier fundraising? (isomorphiclabs.com) Thrive Capital was named by Isomorphic as the lead investor in both the March 2025 $600 million round and the May 2026 $2.1 billion Series B. Alphabet and GV also participated in both financings, according to the company’s announcements. (msn.com) New investors in the Series B included MGX, Temasek, CapitalG and the UK Sovereign AI Fund. Isomorphic said the new syndicate “significantly” expands its global capital base. ### What does Isomorphic Labs say it is building with the money? (isomorphiclabs.com) Isomorphic said the new capital will power its AI drug design engine, which it calls IsoDDE, and help scale the business globally. The company says its technology builds on AlphaFold and is aimed at designing novel molecules, predicting how drugs will perform and advancing medicines across multiple therapeutic areas and drug modalities. (isomorphiclabs.com) Demis Hassabis, Isomorphic’s founder and chief executive, said on the company’s website that he believes there is “no more important application for AI than helping to improve human health.” The company describes its long-term goal as using frontier AI to unlock faster scientific breakthroughs and new medicines. (isomorphiclabs.com) ### Which drugmakers are already working with Isomorphic? Isomorphic announced collaborations with Eli Lilly and Novartis on January 7, 2024. The company said those two partnerships had the potential to be worth nearly $3 billion to Isomorphic, excluding royalties from any future drug sales. (isomorphiclabs.com) Johnson & Johnson was added to that list on January 20, 2026, when Isomorphic announced what it described as a cross-modality, multi-target research collaboration. Johnson & Johnson said Isomorphic would handle in silico prediction and design, while Johnson & Johnson would conduct experimental assays and advance the programs. (isomorphiclabs.com) ### How close is the company to testing its own drugs in people? Reuters reported on May 12 that Isomorphic now expects its first clinical trials by the end of 2026. That was later than an earlier target from Hassabis of having AI-designed drugs in trials by the end of 2025, according to the Reuters report. (isomorphiclabs.com) The company has not publicly identified in the materials reviewed which internally developed drug candidates would enter those first trials. Forbes reported on May 13 that Isomorphic had not disclosed which drugs it might bring into the clinic. (isomorphiclabs.com) ### Where does this leave the company next? May 12 is the key date in the company’s latest financing timeline: Isomorphic announced the Series B then, four days before this card’s publication date. The company’s next publicly stated operating milestone is to advance its drug candidate pipeline and reach first clinical trials by the end of 2026. (finance.yahoo.com) Eli Lilly, Novartis and Johnson & Johnson remain the named pharmaceutical partners attached to the platform in Isomorphic’s public announcements. Any additional progress is likely to appear first in company releases or partner statements tied to those programs or to the start of clinical testing. (isomorphiclabs.com 1) (isomorphiclabs.com 2) (forbes.com)