OpenAI Researcher Miles Wang Exits to Launch AI Drug Discovery Startup

Wang is in talks to raise $200 million at a $2 billion valuation, with Lightspeed reportedly in discussions to lead the round.

Miles Wang, a researcher at OpenAI, is leaving the company to start an artificial intelligence drug discovery startup, and is in talks to raise roughly $200 million at a $2 billion valuation, according to four people with knowledge of his plans reported by TechCrunch ^[1].

The deal would land Wang’s yet-unnamed company in a crowded but well-funded corner of AI: applying machine learning to accelerate how new medicines are found and developed ^[1]. Several other OpenAI researchers are expected to join the new venture, TechCrunch reported ^[1].

The funding and who’s behind it

Lightspeed Venture Partners is in discussions to lead the funding round, according to TechCrunch’s sources ^[1]. Talks are ongoing, the deal may not be final, and details could change, the outlet noted ^[1]. Wang disputed the story’s funding figures and description of the company but did not specify the correct numbers or details, and Lightspeed did not respond to a request for comment ^[1].

Wang joined OpenAI in 2024 after dropping out of Harvard, where he had been pursuing a bachelor’s degree in computer science ^[1]. At OpenAI, he co-authored research papers on evaluating how AI models can automate and accelerate scientific discovery ^[1].

What the startup may actually build

The new company may focus on AI models that identify new uses for existing drugs — including those that previously failed in clinical trials — rather than developing drugs from scratch, a couple of sources told TechCrunch ^[1]. Repurposing already FDA-approved drugs can produce significantly faster time to revenue because those medicines have already cleared safety testing, TechCrunch noted ^[1].

A hot sector for AI investment

Wang’s fundraise, if it closes, would add to a string of large bets on AI-driven life sciences. Chai Discovery, a two-year-old startup that builds AI models to predict molecular interactions and identify new drugs, announced a $400 million raise at a $3.8 billion valuation on the same day TechCrunch published its story ^[1]. Chai co-founder Josh Meier also previously worked at OpenAI as a researcher ^[1]. Separately, Isomorphic Labs — a spinout from Google DeepMind that also develops AI models for drug discovery — closed a $2.1 billion Series B in May, TechCrunch reported ^[1].