OpenAI researcher Miles Wang is leaving the company to launch an AI drug discovery startup valued at $2B, according to sources familiar with the talks.
Wang, who joined OpenAI in 2024 after dropping out of Harvard, is in discussions to raise roughly $200M at a $2B valuation. Lightspeed is reportedly in talks to lead the round. Several other OpenAI researchers are expected to join the new venture.
The startup would develop AI models to identify new applications for existing drugs and repurpose medicines that previously failed in clinical trials. Finding new uses for FDA-approved drugs offers a faster path to revenue since those compounds have already passed safety testing.
Wang co-authored research at OpenAI on using AI to accelerate scientific discovery, including work on automating biological research in the wet lab.
The move underscores the surging investor appetite for AI in life sciences. Chai Discovery, another AI drug discovery startup founded by a former OpenAI researcher, raised $400M at a $3.8B valuation the same day. Google DeepMind spinout Isomorphic Labs raised $2.1B in its Series B in May.
Wang disputed the reported funding figures but did not provide corrections. Lightspeed declined to comment. The deal may not be final and details could change.
