Isomorphic Labs enters advanced talks to raise over $2bn from Thrive Capital and Alphabet.

Isomorphic Labs, a London-based drug discovery startup spun out from Google DeepMind, is reportedly in advanced discussions to secure over $2bn in a new funding round. Thrive Capital, which previously led the company's external financing last year, is lined up to lead the latest investment alongside participation from parent company Alphabet.

The capital will be directed towards advancing the company's core platform, the Isomorphic Drug Design Engine, and broadening its operations internationally. Founded in 2021 by Demis Hassabis, the firm applies the protein prediction technology of AlphaFold to help pharmaceutical companies identify drug targets and develop new medicines more rapidly. This latest financing follows commercial collaborations with major pharmaceutical groups including Eli Lilly and Johnson & Johnson.

Should the transaction finalise at over $2bn, it would exceed three times the size of the startup's $600m raise in March 2025. It would also position the financing among the largest private rounds recorded for an artificial intelligence drug discovery enterprise globally.