Pathos AI raises $237M led by Bristol Myers Squibb, partners on Alzheimer's drug development

Oct 23, 2026

On October 23, 2026, AI-driven drug developer Pathos AI raised $237 million in a Series E round led by Bristol Myers Squibb, reaching a $3 billion valuation. Alongside the funding, Pathos AI, Bristol Myers Squibb, and Tempus AI entered multi-year strategic agreements valued at up to $192.5 million for Tempus. The deal licenses up to 500,000 de-identified patient records to Pathos AI for $55 million, expanding Pathos AI's Foundry platform beyond oncology into Alzheimer's disease and neuroscience research.

Series E funding details and valuation

▪Pathos AI raised $237 million in a Series E funding round led by Bristol Myers Squibb on October 23, 2026.
▪Pathos AI's investor roster includes returning investors, AstraZeneca, New Enterprise Associates, and General Atlantic.
▪The Series E financing round valued New York-based Pathos AI at approximately $3 billion.

Strategic partnership with Bristol Myers Squibb

▪Pathos AI entered into a strategic collaboration with Bristol Myers Squibb and Tempus AI to develop artificial intelligence tools for drug development in Alzheimer's disease and other neurological conditions.
▪The strategic agreements mark Pathos AI's expansion from oncology into neurological conditions, beginning with Alzheimer's disease treatments.
▪Bristol Myers Squibb gained non-exclusive strategic access to Pathos AI's Foundry platform across its broader portfolio, plus three-year exclusive rights to use the platform for its neuroscience development programs.

Data sharing agreements with Tempus AI

▪Tempus AI expects aggregate cash payments of up to $192.5 million over approximately five years from its combined agreements with Bristol Myers Squibb and Pathos AI.
▪Bristol Myers Squibb agreed to make fixed payments totaling $137.5 million through 2031 under a Statement of Work with Tempus AI for oncology data and analytic services.
▪Pathos AI agreed to license up to 500,000 de-identified patient records for Alzheimer's or neurological conditions from Tempus AI under a five-year agreement worth up to $55 million, at 100,000 records per year.

Foundry platform capabilities and applications

▪Pathos AI's proprietary software platform Foundry has access to approximately 200 petabytes of oncological data to generate and test hypotheses on disease biology.
▪Pathos AI uses its Foundry platform to design biomarker-driven clinical trials and identify specific patient populations most likely to benefit from new therapies.
▪Pathos AI's Foundry platform operates thousands of AI agents that calculate the probability of success for clinical assets by analyzing clinical data, genomics, biological specimen data, and market competition.
▪Pathos AI will apply its Foundry platform to Tempus AI's neurological dataset to track patient outcomes and speed research into Alzheimer's disease biology.

Use of funding proceeds for drug development

▪Pathos AI will use Series E proceeds to scale its Foundry platform and advance its pipeline, including its primary priority program JSKN016 to develop an antibody-drug conjugate cancer therapy.
▪Pathos AI will allocate Series E funds toward an ER PROTAC breast cancer drug program partnered with AstraZeneca.

Tempus AI deal terms and governance

▪A side letter agreement between Tempus AI, Pathos AI, and Bristol Myers Squibb restricts Tempus AI from licensing its neurology records to other parties for a specified period.
▪A special committee of Tempus AI's Board of Directors reviewed and approved the agreements due to overlapping executive leadership and equity ownership with Pathos AI.