OpenAI-backed biotech firm Chai Discovery raises $130M Series B at $1.3B valuation

Chai Discovery, a biotech startup with backing from OpenAI, announced a $130 million Collection B spherical at a $1.3 billion valuation on Monday.

The spherical was led by Normal Catalyst and Oak HC/FT, the corporate stated. Different individuals embrace Menlo Ventures, OpenAI, Dimension, Thrive Capital, Neo, Yosemite enterprise fund, Lachy Groom, SV Angel, and new buyers Glade Brook and Emerson Collective. The agency’s complete funding now stands at over $225 million.

The corporate is one in a growing industry that sees AI as a sooner route towards drug improvement. In August, Menlo Ventures announced it was main Chai’s $70 million Collection A spherical. The investor described Chai as a startup that was constructing basis fashions tuned for drug discovery, particularly to foretell interactions between biochemical molecules so that they may very well be reprogramed for cures.

Chai says that its ambition is to “construct the ‘computer-aided design suite’ for molecules.” Final yr, the startup announced the Chai 1 AI mannequin and is now providing Chai 2, it’s newest mannequin. The corporate says Chai 2 is attaining important enhancements in success charges over different strategies for de novo antibody design, which means constructing customized antibodies from scratch, not modifying present ones.

“Our newest fashions can design molecules which have properties we’d need from precise medication, and deal with difficult targets which have been out of attain,” Josh Meier, Chai’s co-founder and CEO stated in a ready assertion.

Beforehand, Meier, whose background is in machine studying, labored in analysis and engineering at Fb and, previous to that, labored for OpenAI, according to his LinkedIn. Chai Discovery was based in 2024, the profile notes.