Insiders: Alphabet's Isomorphic Labs is negotiating approximately $5 billion in financing

According to a report by Bloomberg citing informed sources, Alphabet's AI drug development company Isomorphic Labs is in talks to raise approximately $5 billion in new funding, which would bring its valuation to around $50 billion. The sources stated that the financing has not yet been completed and details may change.

Isomorphic Labs was spun off from Google's DeepMind in 2021 and conducts drug development based on the AlphaFold protein structure prediction model. In May of this year, it completed a $2.1 billion funding round led by Thrive Capital, with participation from Alphabet and others.