Another OpenAI alum is betting big on AI for biology
Miles Wang, a researcher at OpenAI who focused on using artificial intelligence to speed up scientific discovery, is leaving the ChatGPT maker to found his own company. The new venture will build AI models for drug discovery. Four people familiar with the plans confirmed the move to TechCrunch.
Wang is in talks to raise roughly $200 million at a valuation of $2 billion, according to two sources. Lightspeed is in discussions to lead the round. Nothing is final yet — the deal could still shift — but the numbers signal serious investor appetite.
Wang himself disputed the reported funding figures and the description of his startup, but declined to provide corrections. Lightspeed did not respond to a request for comment.
What the startup will actually do
Details are still sparse, but sources say Wang’s company may focus on finding new uses for existing drugs — and possibly for drugs that failed in earlier trials. That’s a smart bet. Repurposing an FDA-approved drug cuts years off the timeline because safety data already exists. Getting to revenue faster is the name of the game.
Who else is joining
Several other OpenAI researchers are expected to leave with Wang and join the new company. Their names haven’t been disclosed yet.
The bigger picture: AI is flooding into biotech
Wang’s move is part of a wave. Just this week, Chai Discovery — a two-year-old startup that builds AI models to predict molecular interactions — announced a $400 million raise at a $3.8 billion valuation. Its co-founder, Josh Meier, also spent time at OpenAI as a researcher.
Then there’s Isomorphic Labs, the Google DeepMind spinout that develops AI for drug discovery. It raised a $2.1 billion Series B in May. The pattern is clear: investors are pouring money into AI-first biotech companies.
Who is Miles Wang?
Wang joined OpenAI in 2024 after dropping out of Harvard, where he was working on a bachelor’s degree in computer science. He’s young, unfinished with college, and now building a company worth billions — at least on paper. That’s a shift from a few years ago, when VCs were less comfortable betting on founders who hadn’t finished school. Today, it’s almost normal.
At OpenAI, Wang co-authored research papers on how AI models can automate and accelerate scientific discovery. That work is the foundation for what he’s building now.
Risks and reality checks
Valuations in AI biotech are climbing fast. But drug discovery is hard. Really hard. Most molecules fail in the lab, and even the best AI models can’t guarantee a hit. The space is crowded: Chai Discovery, Isomorphic Labs, Recursion Pharmaceuticals, and dozens of others are all chasing the same goal.
Wang’s edge might be his focus on drug repurposing rather than de novo discovery. That’s a lower-risk path, but it still requires solid science and real clinical data. The hype is real. The question is whether the models will deliver.
What’s next
If the funding closes as expected, Wang’s startup will join a growing list of AI-native drug discovery companies. The next few months should bring more details on the technology, the team, and the specific diseases the company plans to target.
For now, the message from investors is loud: they believe AI can change how we find new medicines. Miles Wang is betting his career on it.
