- Isomorphic Labs is in talks to raise $5 billion at a $50 billion valuation, Bloomberg reports.
- Demis Hassabis expects the company’s first clinical trials to start by the end of December.
- If the $5 billion round closes, total external funding will be around $ 7.7 billion in under 2 years.
Isomorphic Labs, a DeepMind spinout founded by Demis Hassabis, is in talks to raise $5 billion at a $50 billion valuation, according to Bloomberg, citing sources familiar with the matter. The financing is not yet final, and the terms may change.
This is at the upper end of the valuation range, which referenced early discussions of a $40 billion-or-more valuation, though the round size wasn’t specified. Isomorphic didn’t disclose a valuation for its May round, so there’s no benchmark to go on.
$5 billion added to $2.7 billion
Isomorphic spun out of Google DeepMind in 2021 to build on AlphaFold, the protein-structure-prediction AI. In March 2025, they raised $600m in their first external funding round, led by Thrive Capital, GV and Alphabet.
Its $2.1 billion Series B closed on May 12th, led by Thrive, with Alphabet, GV, MGX, Temasek, CapitalG and the UK Sovereign AI Fund all joining. If the $5 billion round closes, total external funding will be around $ 7.7 billion in under 2 years.
If the $50 billion valuation includes the new funding, the round would be around 10%. If it doesn’t, then it would be around 9%.
The competition is on valuation, with the others being vastly lower. Chai Discovery raised $400m at a $3.8 billion valuation in July, so Isomorphic’s $50 billion valuation is some 13x higher. In London, Basecamp Research raised $140 million at an $800 million valuation in September, making Isomorphic over 60x bigger. Thrive, which led both of Isomorphic’s rounds, also invested in Chai.
Grand View Research forecasts the AI in drug discovery market will be worth $13.8 billion by 2033, up from $ 2.3 billion in 2025. A single company valued at $50 billion would be worth about 3.6x the sector’s projected sales that year.
Our analysis of PitchBook data shows the median pre-money valuation of European AI startups is €8.3 million, compared to €64.2 million in the US.
What the engine and its supporters offer
The company operates via IsoDDE, known as the Isomorphic Drug Design Engine, a suite of AI models that predict molecular structures and interactions to enable the design and optimisation of drug candidates before any lab work.
Isomorphic has in-house programmes in oncology and immune disorders and has partnered with Eli Lilly and Novartis, which signed in January 2024 for up to $1.7 billion and $1.2 billion in milestone payments, respectively, and with Johnson & Johnson, which joined in January 2026 on undisclosed terms. The milestone payments are contingent on achieving development milestones.
As of May, the company had over 350 staff across London, Cambridge, Massachusetts and Lausanne. Bloomberg also reported that Isomorphic is in competition with OpenAI, which launched a life sciences research model this year.
Valuation is $50 billion, and investors expect something to happen by the end of December, though they could be wrong. A trial wouldn’t prove the drug works, but it would show Isomorphic can get a candidate into human testing. If another delay follows the one in 2025, the valuation would be based on partnerships and technical claims that have not been validated.
