OpenAI Researcher Miles Wang Reportedly Launching AI Drug Discovery Startup

OpenAI researcher Miles Wang is reportedly preparing to leave the company to launch a startup focused on artificial intelligence for drug discovery, according to people familiar with the plans. The proposed venture is expected to focus on AI models designed to accelerate pharmaceutical research, and several other OpenAI researchers are also expected to join the new company.

According to the source material, Wang is in discussions to raise about $200 million at a reported valuation of approximately $2 billion. Two people familiar with the matter said venture capital firm Lightspeed is in talks to lead the financing round. The discussions remain ongoing, and the terms have not been finalised, meaning both the valuation and funding amount could still change before any agreement is completed.

Wang disputed the reported funding figures and certain aspects of the startup’s description but did not provide alternative details or corrected figures. Lightspeed did not respond to a request for comment regarding its reported involvement in the financing discussions.

The reported fundraising reflects continued investor interest in applying artificial intelligence to life sciences and drug development. The sector has attracted significant investment as companies seek to use AI models to improve the speed and efficiency of scientific research, particularly in identifying potential medicines and accelerating biological discovery.

Recent funding activity highlights the momentum behind the field. Chai Discovery, a two-year-old company developing AI models that predict molecular interactions for drug discovery, announced a $400 million funding round at a reported $3.8 billion valuation. The company’s co-founder, Josh Meier, also previously worked as a researcher at OpenAI. Earlier this year, Google DeepMind spinout Isomorphic Labs raised a reported $2.1 billion Series B funding round to continue developing AI-powered drug discovery technologies.

People familiar with Wang’s plans said the startup may initially develop AI models capable of identifying new medical uses for existing drugs, including medicines that have already received approval from the U.S. Food and Drug Administration, as well as compounds that failed in previous clinical trials. According to the source material, discovering additional uses for existing approved medicines can shorten the path to commercialisation because those drugs have already undergone safety testing.

Wang joined OpenAI in 2024 after leaving Harvard University, where he had been pursuing a bachelor’s degree in computer science. During his time at OpenAI, he co-authored research examining how artificial intelligence models can automate and accelerate scientific discovery, including research focused on biological applications.

The reported departure comes as artificial intelligence companies continue to expand beyond traditional software into specialised scientific research. While details of Wang’s new company have not been publicly announced, the reported fundraising discussions underscore continued investor confidence in AI applications for biotechnology and pharmaceutical development.