Isomorphic Labs, the London-based AI drug design company, announced a $2.1bn Series B on 12 May 2026. Thrive Capital led the round. Existing backers Alphabet and GV took part, and four new investors joined: MGX, Temasek, CapitalG and the UK Sovereign AI Fund.
The company did not disclose a valuation. According to Gunderson Dettmer, the law firm that represented Thrive Capital on the deal, the money will go towards developing and deploying the company's AI drug design engine, moving its therapeutic programmes towards the clinic and scaling the business globally.
Thrive Capital also led the company's previous round, so the Series B marks its second lead investment in Isomorphic Labs.
“We are humbled to have the opportunity to continue to support Isomorphic's mission to solve all disease.”Joshua Kushner, Founder and CEO, Thrive Capital
What Isomorphic Labs does
Isomorphic Labs was founded in 2021 as a spin-off from Google DeepMind, according to Tech.eu. It is led by Sir Demis Hassabis, its founder and chief executive, and Max Jaderberg, its president. The company uses AI to design new medicines, and its core technology is a drug design engine it calls IsoDDE, which it is applying across several therapeutic areas and types of drug.
The company is headquartered in London and has offices in Cambridge, Massachusetts, and Lausanne, Switzerland. It has strategic partnerships with pharmaceutical groups including Novartis, Eli Lilly and Johnson & Johnson, according to its announcement. Pharmaceutical Technology reported that the funding will also support hiring across AI, engineering, drug design and clinical roles.
Coverage of how far the pipeline has progressed has varied. Let's Data Science, summarising a Sifted report, wrote that Hassabis had told Bloomberg the company would enter clinical trials, and later clarified that he meant pre-clinical work, which the company has started. No clinical trial start has been reported.
Who invested
Thrive Capital, the firm founded by Joshua Kushner, led the round. Alphabet, which owns DeepMind, and its venture arm GV returned. CapitalG, Alphabet's growth fund, joined as a new investor, as did Abu Dhabi's MGX, Singapore's Temasek and the UK Sovereign AI Fund.
Kushner said Thrive was "humbled to have the opportunity to continue to support Isomorphic's mission to solve all disease" and that its conviction in the team had deepened over the past year. Dr Krishna Yeshwant, a managing partner at GV, said the firm had strong confidence in the company.
Max Jaderberg said in the announcement that the company's drug design engine works and is giving it a repeatable way to design new medicines.
The funding so far
The Series B follows the company's first external round. On 31 March 2025 Isomorphic Labs raised $600m in a round led by Thrive Capital, with GV taking part and Alphabet adding follow-on capital, Tech.eu reported at the time. Tech.eu described it as the company's first external funding.
The company has not published a total for the money it has raised. Taken together, the two disclosed external rounds come to $2.7bn.
Large rounds for AI in drug discovery
The size of the round places Isomorphic Labs among the best-funded companies applying AI to drug discovery. Its backers now include sovereign investors from the United Kingdom, the United Arab Emirates and Singapore alongside its parent company and its venture funds.
Hassabis said in the announcement that the company's focus is on scaling its technology to its full potential. The next test for the company is whether drug candidates designed by its engine reach clinical trials.
Company website: isomorphiclabs.com