Isomorphic Labs, a company spun out of Google DeepMind in 2021, has successfully raised $600 million in its first external funding round. The London-based AI firm aims to revolutionize the drug development process using artificial intelligence. Thrive Capital led the funding round, with participation from Google Ventures, while Alphabet, an existing investor, will provide additional support in future rounds.

“This funding will accelerate the development of our next-generation AI-driven drug design engine, move our programs into clinical trials, and help us work toward our goal of curing all diseases with AI,” said Sir Demis Hassabis, founder and CEO of Isomorphic Labs.

This funding round highlights the growing trend of AI-powered companies in the biotech sector. Other AI-driven biotech startups, such as Xaira Therapeutics and Formation Bio, have also secured significant investments, including a $1 billion Series A and a $372 million Series D, respectively.

Thrive Capital, the New York-based investment firm co-founded by Joshua Kushner, has been actively investing in high-growth AI companies. Recently, it led Databricks’ $10 billion funding round and OpenAI’s $6.6 billion round, showing strong confidence in AI-driven innovations.

Isomorphic Labs is poised to continue its groundbreaking work at the intersection of artificial intelligence and drug development.