Alphabet Inc.’s Isomorphic Labs raised $2.1 billion in its second round of outside capital, with new support from sovereign wealth funds, as it seeks to make artificial intelligence-designed drugs a reality.
Venture firm Thrive Capital led the round, which also included Alphabet, Abu Dhabi’s MGX, Singapore’s Temasek and the UK’s Sovereign AI fund, Isomorphic Labs said in a statement Tuesday. Bloomberg News previously reported on the financing plans.
London-based Isomorphic Labs was formed in 2021 out from Google DeepMind with the goal of commercializing the lab’s breakthrough AlphaFold protein-folding model. It competes with an array of businesses trying to apply the latest AI advances to medicine. That ...