Josh Kushner's Thrive Capital and Alphabet (NASDAQ:GOOG) are leading new financing for Isomorphic Labs, an AI-powered drug discovery company.
The London-based company, spun out of Google DeepMind, plans to raise $2 billion to expand its business globally, Bloomberg reported.
Isomorphic, founded in 2021 by DeepMind co-founder Demis Hassabis, functions as a "digital biology" lab aimed at revolutionizing the pharmaceutical industry by designing novel medicines using machine learning.
Earlier this year, the company announced that it had entered into an agreement to expand its research collaboration with Novartis, adding up to three additional research programs. Isomorphic has also entered into major strategic partnerships with Eli Lilly and Johnson and Johnson.
In March 2025, Isomorphic announced it had raised $600 million in its first-ever external funding round, led by Thrive Capital. Other investors included Google Ventures and Alphabet, the New York Times had reported at the time.
Last month, former Disney CEO Bob Iger rejoined Thrive as an advisor, working with the company's investment staff and portfolio founders.
New York City-based Thrive Capital was founded in 2009 and focuses on software investments. The firm manages more than $50 billion in assets, according to Pitchbook and TechCrunch.
Thrive has also backed several well-known companies, including SpaceX, Stripe, and OpenAI.
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