OpenAI researcher Miles Wang in talks to launch AI drug discovery startup valued at $2B

Miles Wangan OpenAI researcher whose work includes using AI to accelerate scientific and biological discoveries is leaving the ChatGPT maker to launch a new startup focused on developing AI models for drug discovery, according to four people with knowledge of his plans. Several other OpenAI researchers are expected to join the new company.

Wang is in talks to raise about $200 million at a $2 billion valuation, two of the people said. According to sources, Lightspeed is in talks to lead the funding round. Talks are ongoing, the deal may not be final and details may change.

Wang disputed the story’s funding figures and description of the company, but did not specify the correct figures or details. Lightspeed did not respond to a request for comment.

The funding discussions highlight investor interest in applying AI to achieve breakthroughs in life sciences. Chai Discovery, a two-year-old startup that develops AI models that can predict molecular interactions to identify new drugs, announced Tuesday that it $400 million at a valuation of $3.8 billion. (Co-founder Josh Meier also went through OpenAI as a researcher.) Meanwhile, Google DeepMind spinout Isomorphic Labs, which also develops AI models for drug discovery, released a $2.1 billion Series B in May.

Wang’s new startup may be working on AI models that will help find new uses for existing drugs and possibly for drugs that previously failed in trials, a number of sources told TechCrunch. Finding new uses for FDA-approved drugs can result in a significantly faster time-to-revenue than developing new drugs from scratch because these drugs have already been tested for safety.

Wang joined OpenAI in 2024 after dropping out of Harvard, where he was working on a bachelor’s degree in computer science. (In recent years, investors have once again begun to bet on young founders who haven’t completed college.)

At OpenAI he co-authored research papers, including evaluating how AI models can automate speed up scientific discovery.