Isomorphic Labs in Advanced Talks to Raise Over $2 Billion for AI Drug Discovery

Isomorphic Labs, the Alphabet/DeepMind spinout focused on AI-driven drug discovery, is in advanced discussions to raise over $2 billion in a new funding round. Thrive Capital, which led the first funding round, is set to lead the new financing, with Alphabet also participating. The round is not yet closed. Isomorphic Labs spun out of Google DeepMind in 2021, is based in London, and commercializes AlphaFold for protein structure prediction. CEO Demis Hassabis also runs DeepMind. The company has partnerships with Johnson & Johnson, Eli Lilly, and Novartis. Funds will be used for the drug design engine and global expansion. This follows Alphabet's pattern of spinning out standalone businesses, with Waymo having raised $16 billion at a $126 billion valuation earlier in 2026.