Isomorphic, which formed as an Alphabet company in 2021, has a massive cash horde, but it’s tight-lipped on what drugs it might bring to the clinic.

On Tuesday, Isomorphic Labs, the Alphabet-founded firm that uses AI to accelerate drug development, said that it had raised $2.1 billion from investors led by Thrive Capital. That’s a boatload of cash for a drug developer, and represents the second largest ever fundraise for a biotech company behind only Altos Labs, according to trade publication Endpoints News. And it’s the latest sign of the market’s high hopes that AI can fix the costly, lengthy drug development process.

“We’re aiming to redefine the way we create new medicines,” Isomorphic President Max Jaderberg tells Forbes, adding that the new funding represents “a lot of validation of what we’ve been building out the past four-and-a-half, almost five, years.” The investment, which is at an undisclosed valuation, follows Isomorphic’s first outside funding of $600 million last year.

London-based Isomorphic is best known for AI model........

© Forbes