OpenAI researcher Miles Wang is leaving to launch an AI drug discovery startup and is in talks to raise $200M at a $2B valuation, with Lightspeed potentially leading the round. The new venture, which may focus on repurposing existing drugs, enters a hot market where competitors like Chai Discovery and Isomorphic Labs have recently raised billions. Wang has disputed the reported funding figures.
Wang's OpenAI departure
- ▪OpenAI researcher Miles Wang is leaving the company to launch a new startup focused on developing AI models for drug discovery
- ▪Several other OpenAI researchers are expected to join Miles Wang's new company
Startup funding discussions
- ▪Venture capital firm Lightspeed is in discussions to lead the funding round
- ▪Miles Wang disputed the reported funding figures and company description without providing specific corrections
- ▪Miles Wang is in talks to raise about $200 million for his new startup at a $2 billion valuation
- ▪The funding discussions are ongoing and the final deal details may change
AI drug discovery market
- ▪AI drug discovery startup Chai Discovery announced it raised $400 million at a $3.8 billion valuation on July 14, 2026
- ▪The funding discussions for Miles Wang's startup reflect high investor interest in applying AI to life sciences
- ▪Google DeepMind spinout Isomorphic Labs raised a $2.1 billion Series B in May for its AI drug discovery models
Repurposing existing drugs
- ▪Repurposing FDA-approved drugs can lead to revenue faster than developing new drugs because they have already passed safety tests
- ▪Miles Wang's new startup may focus on AI models to find new uses for existing drugs, including those that previously failed trials
Wang's background
- ▪Miles Wang joined OpenAI in 2024 after dropping out of a computer science bachelor's program at Harvard
- ▪At OpenAI, Miles Wang co-authored research on using AI models to automate and accelerate scientific discovery
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