Isomorphic Labs raises $2.1B Series B led by Thrive and Alphabet

Alphabet and GV were existing backers. MGX, Temasek, CapitalG and the UK Sovereign AI Fund joined as new investors. MGX is Abu Dhabi's sovereign wealth fund, and Temasek is Singapore's. The company says the capital goes to IsoDDE, its drug design engine built from several foundation models. Spending also covers datasets, compute and hiring across biology, chemistry and engineering. Headquarters are in London, with offices in Cambridge and Lausanne. The company took $600 million in its first external round a year earlier. It also runs multi-year collaborations with partners such as Eli Lilly. Critics have noted a gap: no clinical candidate, disease target or program name has been disclosed publicly. One report says the company aims to push candidates toward clinical trials by the end of 2026. That makes the next 12 months the first real test of the thesis. For founders, the round shows that frontier-AI investors like Thrive will write multibillion-dollar checks for AI-native biology. Sovereign funds taking part also suggests national governments now treat drug-design models as strategic infrastructure. Startups competing for the same capital should expect investors to ask for clinical or partner-validated results, not just model benchmarks. Companies that sell tools to drug developers should also expect a well-funded in-house rival.