Isomorphic Labs Seeks About $5 Billion at About $50 Billion Valuation

Alphabet's Isomorphic Labs is discussing a financing of about $5 billion that would value the AI drug-discovery company at about $50 billion, people familiar with the matter say.

Isomorphic Labs was formed in 2021 after spinning out of Google DeepMind. It uses AlphaFold, a model that predicts protein structures, in drug research.

In May, the company completed a $2.1 billion financing led by Thrive Capital, with Alphabet and other investors participating. The new financing has not been completed, and its details may change.