OpenAI Researcher Miles Wang in Talks to Launch AI Drug Discovery Startup

Miles Wang, an OpenAI researcher whose work includes using AI to accelerate scientific and biological discovery, is leaving to start a company focused on AI models for drug discovery, according to TechCrunch. Several other OpenAI researchers are expected to join the new company, the report says.

Wang is reportedly in talks to raise about $200 million at a $2 billion valuation, with Lightspeed in discussions to lead the round. TechCrunch notes the talks are ongoing, the deal may not be final and details could change.

Wang disputed TechCrunch’s funding figures and description of the company but did not provide corrected numbers or details, according to the report. Lightspeed did not respond to TechCrunch’s request for comment.

That means readers should treat the valuation and round size as reported discussion points, not finalized deal terms. The central takeaway is that the proposed company is drawing attention because it sits at the intersection of frontier AI talent and life sciences.

The report frames Wang’s plans against a broader wave of investor interest in using AI to make breakthroughs in life sciences. TechCrunch cites Chai Discovery, a two-year-old startup developing AI models that can predict molecular interactions to identify new drugs, which announced it raised $400 million at a $3.8 billion valuation.

The article also points to Google DeepMind spinout Isomorphic Labs, which develops AI models for drug discovery and raised a $2.1 billion Series B in May. Together, these examples show that investors are backing companies trying to apply AI models to core drug development problems.

Wang’s new startup may be working on AI models that help identify new uses for existing drugs and possibly drugs that previously failed in trials, TechCrunch reports, citing sources. The article notes that finding new uses for FDA-approved drugs can lead to faster time to revenue than developing new drugs from scratch because these medicines have already been tested for safety.

Wang joined OpenAI in 2024 after dropping out of Harvard, where he was working on a computer science degree. At OpenAI, he co-authored research papers, including work evaluating how AI models can automate and accelerate scientific discovery.