Google DeepMind’s Isomorphic Labs Just Raised a Massive $2.1 Billion

Isomorphic Labs expanded its investor base as Thrive Capital returned to lead the round with participation from sovereign funds in the UK, UAE, and Singapore.

Isomorphic Labs, the AI-first drug design company spun out of Google DeepMind, has closed a $2.1 billion Series B funding round, the company announced on May 12, 2026. The raise, which NervNow first reported was in advanced discussions earlier this month, has now been formally completed, bringing Isomorphic Labs’ total external capital base to approximately $2.6 billion.

Thrive Capital led the round for the second consecutive time. Existing backers Alphabet and GV also participated, alongside a new set of institutional investors: MGX (Abu Dhabi), Temasek (Singapore), CapitalG, and the UK Sovereign AI Fund. The entry of three sovereign wealth funds from three different countries marks a significant expansion of the company’s global investor base.

What the capital is for

The proceeds are earmarked across three priorities. First, continued development and deployment of IsoDDE, Isomorphic Labs’ proprietary AI drug design engine, which the company describes as a repeatable way to design new medicines for a wide range of diseases. Second, acceleration of its internal pipeline of therapeutic programs toward Phase I clinical trials, with first-in-human dosing expected by late 2026. Third, global talent acquisition across AI research, engineering, drug design, and clinical functions.

The company is advancing both partnered programs and wholly-owned internal programs across multiple therapeutic areas and drug modalities. It maintains active R&D partnerships with Novartis, Eli Lilly, and Johnson & Johnson, though the financial terms of those agreements remain undisclosed.

Leadership and context

Isomorphic Labs was founded in 2021 to commercialize AlphaFold, the protein structure prediction system developed at Google DeepMind. It is led by CEO Sir Demis Hassabis, who simultaneously heads Google DeepMind, and President Max Jaderberg.

The $2.1 billion raise is among the largest single private rounds in the AI drug discovery space to date, and arrives as investor appetite for AI-enabled biomedical platforms continues to grow. Earlier this year, OpenAI, also a Thrive Capital portfolio company, introduced a model targeting drug discovery workflows.

Joshua Kushner, Founder and CEO of Thrive Capital, said the firm remained committed to supporting Isomorphic’s mission.

What’s different from the earlier report

When NervNow reported on the fundraise on May 9, the round had not yet been finalized, investors beyond Thrive Capital and Alphabet had not been confirmed, and clinical timelines had not been publicly committed to. The confirmed round adds three new institutional backers, including two sovereign wealth funds and the UK Sovereign AI Fund, and establishes late 2026 as the target for first clinical trials.

Disclaimer: This news is based on publicly available information. NervNow has not independently verified any claims.

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