OpenAI researcher Miles Wang in talks to raise $200M at $2B for AI drug discovery startup

OpenAI researcher Miles Wang is leaving the company to launch a startup building AI models for drug discovery, according to four people familiar with the plans. Wang is in talks to raise roughly $200 million at a $2 billion valuation, with Lightspeed Venture Partners discussing a lead role. The deal is not final and terms could change; Wang disputed the funding figures but did not provide corrected numbers. Several other OpenAI researchers are expected to join the venture. The company may focus on finding new uses for existing FDA-approved drugs, including those that previously failed in trials, which could accelerate time to revenue compared with developing novel compounds. The approach mirrors a broader investor push into AI for life sciences: Chai Discovery recently raised $400 million at a $3.8 billion valuation, and Google DeepMind spinout Isomorphic Labs closed a $2.1 billion Series B in May. Wang joined OpenAI in 2024 after leaving Harvard, where he was pursuing a computer science degree. At OpenAI he co-authored research on using AI models to accelerate scientific and biological discovery.