Cure
Overview
The latest AI drug discovery venture capital news, updated monthly—tracking funding rounds of $10M or more in 2026.
The latest biotech venture capital news relating to AI drug discovery, updated monthly—tracking major funding rounds of $10M or more in 2026.
For medtech deals, visit our Medtech Funding Tracker, updated weekly.
June 2026
No new $10M+ AI drug discovery venture rounds have been confirmed for June 2026 as of this update.
May 2026
Perceptic
Date: May 26 Series: Seed Amount: $12M Therapeutic Area: Multiple (platform serves pharma R&D broadly) Modality: End-to-end AI platform spanning drug discovery, asset scouting, indication selection, and clinical trial design Notable Investors: Accel (lead), Air Street Capital, and Elder Gull
Perceptic, a startup that automates drug discovery from start to finish for Big Pharma, closed $12M in seed funding. According to their press release, Perceptic will focus on scouting external assets developed by biotechnology companies, helping pharma companies choose which indications to pursue in clinical trials, and building a "data foundation" for clinical trial design. Perceptic is headquartered in London and also has a presence in the Switzerland Innovation Park Basel Area.
Isomorphic Labs
Date: May 12 Series: Series B Amount: $2.1B (brings total funding to roughly $2.7B) Therapeutic Area: Multiple (internal pipeline focused on oncology and immunology; partnered programs span additional areas) Modality: AI drug design engine (IsoDDE) spanning small molecules and biologics across multiple modalities Notable Investors: Thrive Capital (lead), Alphabet and GV (existing), MGX, Temasek, CapitalG, and the UK Sovereign AI Fund
Headquartered in London with a second location in Lausanne, Switzerland, Isomorphic Labs is an AI company founded by Demis Hassabis, who serves as CEO. Isomorphic Labs is an Alphabet-founded firm that plans to use its $2.1B fundraising round to accelerate drug development through AI. It's an AL model, AlphaFold, that predicts protein structures. To date, this is the second-largest fundraising for a biotech company, following Altos Labs' $5.5 billion combined investment.
April 2026
Fathom Therapeutics (formerly Atommap)
Date: April 27 Series: Series A (oversubscribed) Amount: $47M Therapeutic Area: Multiple (internal pipeline in high-impact disease areas; lead program includes a protein degrader against an "undruggable" target) Modality: Physics- and AI-based small-molecule drug design, simulating protein motion at atomic resolution Notable Investors: Sutter Hill Ventures (lead), Chemistry, Alexandria Venture Investments, and Empire State Development's NY Ventures
New York-based drug design company, Fathom Therapeutics (formerly Atommap), rebranded and raised a $47M Series A financing round led by Sutter Hill Ventures. Participating investors included Chemistry, Alexandria Venture Investments, and NY Ventures, among others. The company uses physics-based simulations and AI to model protein motion at the atomic level, addressing a long-standing limitation in computational drug discovery, according to its official press release.
Alloy Therapeutics
Date: April 15 Series: Series E Amount: $40M (values company at $1B) Therapeutic Area: Platform / drug discovery infrastructure Modality: AI-powered antibody, bispecific, genetic medicine, and cell therapy discovery infrastructure, plus preclinical/clinical services and biologics manufacturing Notable Investors: 8VC; JIC Venture Growth Investments; Echo Capital; multiple family offices; existing investors Mubadala Capital, Presight Capital, Thiel Capital, Founders Fund, Alexandria Venture Investments, Gaingels, Ulysses Diversified Holdings
Alloy Therapeutics is a company empowering drug discovery and development through AI/ML-driven innovation and integrated solutions. Headquartered in Waltham, Massachusetts, and founded by Errik Anderson, Alley Therapeutics just raised $40M in Series E funding. To date, total capital raised is $174M, with a $1B valuation. Notable investors include 8VC, JIC Venture Growth Investments, and Echo Capital Group. Funding will go towards further scaling its AI-driven biotech infrastructure.
Helical
Date: April 14 Series: Seed Amount: $10M Therapeutic Area: Multiple (deployed programs span neurodegenerative disease, including ALS, cardiovascular disease, and predictive safety biomarkers) Modality: Application layer that turns biological foundation models into reproducible in-silico drug discovery workflows for target identification, biomarker discovery, and therapeutic design Notable Investors: redalpine (lead), Gradient, BoxGroup, Frst, and angels, including Aidan Gomez (Cohere) and Clément Delangue
Helical is a London-based biotech and AI company that provides an application layer for pharmaceutical companies to test biological hypotheses computationally at scale. It replaces physical web lab experiments that are slow with in silico simulations, ultimately helping researchers accelerate drug discovery from years to just a few weeks. The company was founded in 2024 by Rick Schneider, Maxime Allard, and Mathieu Klop. Redalpine led the $10M round, with investors including Gradient, BoxGroup, and Frst.
Generare
Date: April 2 Series: Series A Amount: €20M / $23M Therapeutic Area: Multiple (compounds licensed to pharma/agrochemical partners as discovery starting points, including antimicrobial and oncology applications) Modality: AI- and synthetic-biology-driven generation of novel small-molecule data mined from microbial genomes, feeding downstream drug-discovery AI models Notable Investors: Alven and daphni (co-leads), Galion.exe, Teampact Ventures, and VIVES Partners
Generate is a Paris-based startup founded in 2023 that recently raised a €20M ($23M) Series A to scale AI-driven molecular discovery. As reported in the company's press release, Generate identified more than 200 previously uncharacterized molecules last year, which differentiates its platform from other techbio competitors. Generate's current goal is to scale its dataset to more than 2,000 molecules by 2027 and expand its team of experts.
March 2026
Scala Biodesign
Date: March 31 Series: Series A Amount: $16M (brings total funding to $21.5M) Therapeutic Area: Multiple (platform serves biologics, enzymes, antibodies, vaccines and industrial biotech programs) Modality: AI and physics-based computational protein design platform (ScalaOS) Notable Investors: Grove Ventures (lead), TLV Partners, Deep Insight, and the Israel Innovation Authority
Founded in 2022 by Dr. Ravit Netzer and Dr. Adi Goldenzweig, Scala Biodesign is a Tel Aviv-based company that develops protein-based products using ScalaOS. Scale Biodesign's $16M Series A financing will support their hybrid AI-driven software platform to accelerate the design and optimization of biologics, vaccines, antibodies, and enzymes. Grove Ventures was the lead investor, with TLV Partners, Deep Insight, and the Israel Innovation Authority also participating.
Earendil Labs
Date: March 20 Series: Financing rounds (not a single named series) Amount: $787M Therapeutic Area: Oncology, autoimmune, and inflammatory diseases Modality: AI-designed antibodies and biologics (bispecifics, T-cell engagers, dual-targeting ADCs) Notable Investors: Dimension Capital, DST Global, INCE Capital, Luminous Ventures, Miracle Capital, Sanofi, Biotech Development Fund (Hillhouse + Pfizer)
AI-powered biotech company Earendil Labs, which integrates machine learning and predictive protein modeling to design next-generation biologics, has raised a combined $787M in financing. Leading global investors included Dimension Capital, DST Global, and INCE Capital, among others, alongside existing and new investors in the healthcare and technology spaces. According to their press release, the financing will accelerate Earendil Labs' AI-driven R&D platform and its growing pipeline of antibody and biologics programs.
February 2026
Tamarind Bio
Date: February 26 Series: Series A Amount: $13.6M total raise, including a $12M Series A component Therapeutic Area: Multiple (platform-agnostic infrastructure serving 8 of the top 20 pharma companies, plus biotechs including Boehringer Ingelheim, Bayer, Mammoth Biosciences, and Adimab) Modality: Cloud infrastructure for running AI and physics-based molecular models (AlphaFold, RFdiffusion, MPNN, GROMACS, and 200+ others) without local ML/infrastructure setup Notable Investors: Dimension Capital (lead), and Y Combinator
Based in San Francisco and founded by Stanford computer science alumni Deniz Kavi and Sherry Liu in 2023, Tamarind Bio is a platform for molecular AI inference that serves thousands of leading scientists worldwide. According to Kavi, the company has grown revenue by 7x over the last year, with key partnerships with organizations such as Bayer, Boehringer Ingelheim, and Adimab. Its recent $13.6M in funding includes a $12M Series A round led by Dimension Capital, with Y Combinator among the investors.
Galux
Date: February 9 Series: Series B Amount: $29M (brings total funding to $47M) Therapeutic Area: Multiple (targets include PD-L1, HER2, and expansion into GPCRs and ion channels) Modality: AI-driven de novo protein and antibody design, generating therapeutic proteins from scratch rather than modifying existing templates Notable Investors: InterVest, DAYLI Partners, PATHWAY Investment (existing); Yuanta Investment, Korea Development Bank, SL Investment, NCORE Ventures, SneakPeek Investments, Korea Investment & Securities, Mirae Asset Securities
Founded in 2020, Galux is a South Korean biotechnology company that develops AI for drug discovery. The company recently raised $29M Series B funding to advance its AI-driven protein design for drug discovery. With the close of the round, Galux's total funding comes to $47 million. Several existing investors participated in the Series B round, along with new investors such as Yuanta Investment, Korea Development Bank (KDB), and SL Investment.
January 2026
Proxima (formerly VantAI)
Date: January 13 Series: Seed (oversubscribed) Amount: $80M Therapeutic Area: Multiple (AI-driven proximity-therapeutics platform; first partnered program expected to enter the clinic in 2026) Modality: AI-designed PROTACs and molecular glues (proximity-based small molecules) Notable Investors: DCVC (lead), NVentures (NVIDIA), Braidwell, Roivant, AIX Ventures, Yosemite, Magnetic Ventures, Alexandria Venture Investments, and Modi Ventures
As part of their recent oversubscribed $80M fundraise, VantAI has rebranded as Proxima to better reflect their focus on unlocking proximity-based therapeutics through technology and data. DCVC led the most recent round of funding, with participation from other investors such as NVentures, Braidwell, Roivant, AIX Ventures, and Yosemite. The AI-native drug discovery company is primarily based in New York City, with a physical presence in Boston, Massachusetts.
Converge Bio
Date: January 13 Series: Series A Amount: $25M (brings total funding to $30M) Therapeutic Area: Multiple (platform serves pharma and biotech clients across target discovery, antibody design, and manufacturing optimization) Modality: Multi-model AI system for target discovery, antibody design, and protein manufacturing optimization Notable Investors: Bessemer Venture Partners (lead), TLV Partners, Vintage Investment Partners, Saras Capital, and executives from Meta, OpenAI, and Wiz
Converge Bio, a generative AI life sciences company that accelerates drug development, raised $25M in Series A funding, bringing the total funding to $30M. Bessemer Venture Partners led the round, with other investors including TLV Partners, Vintage Investment Partners, and Saras Capital. Converge Bio plans to expand operations and development. The three co-founders are Dov Gertz, CEO; Oded Kalev, CTO; and Dr. Iddo Weiner, CSO. Converge Bio is headquartered in Boston, Massachusetts, and Tel Aviv, Israel.
Topos Bio
Date: January 8 Series: Seed Amount: $10.5M Therapeutic Area: Neurodegenerative disease initially (Alzheimer's, Parkinson's), with planned expansion into oncology and metabolic disorders Modality: AI-native foundation model (Topos-1) for intrinsically disordered proteins, generating dynamic conformational ensembles rather than static structures, paired with generative chemistry for small-molecule design Notable Investors: Boldstart, Threshold, and Neo; angels including Dara Khosrowshahi (Uber) and Naveen Rao (Unconventional AI)
Topos Bio, an AI-native biotech company that develops drug-discovery platforms for intrinsically disordered proteins (IDPs) raised a $10.5M seed round to target 'undruggable' proteins in Alzheimer's and Cancer. Boldstart, Threshold, and Neo led the funding round, with other angel investors like Dara Khosrowshahi and Naveen Rao participating. Topos Bio is headquartered in San Francisco and was founded by biophysicist and AI leader Ryan Zarcone and former Intel AI CTO Amir Khosrowshahi.
Boltz
Date: January 8 Series: Seed Amount: $28M Therapeutic Area: Multiple (platform-agnostic; deployed for small-molecule and biologics programs across Pfizer's and Takeda's pipelines) Modality: Open biomolecular foundation models (Boltz-2, BoltzGen) for structure prediction, binding affinity estimation, and de novo protein/small-molecule design, packaged into a hosted product platform with AI-powered discovery agents Notable Investors: Andreessen Horowitz, Amplify Partners, Zetta Venture Partners (co-leads); angels including Clément Delangue (Hugging Face), Factorial Capital, and Obvious Ventures
AI-driven biotech startup, Boltz, raised a $28M seed funding round led by Zetta Ventures, Amplify Partners, and 16z. Founded in late 2024 by MIT researchers Gabriele Corso, Jeremy Wohlwend, and Saro Passaro, Boltz is partnering with Pfizer on AI drug discovery. Boltz will leverage Pfizer's historical data in its models used to predict molecular structures, as well as small-molecule binding and biologics, per the company's fundraising press release.
