Miles Wang, an OpenAI researcher known for his work using artificial intelligence to accelerate scientific and biological discoveries, is preparing to leave the ChatGPT developer to found a new startup focused on AI-driven drug discovery.

According to four sources familiar with his plans, Wang is in advanced negotiations to secure approximately $200 million in funding at a $2 billion valuation.Lightspeed Partners is reportedly leading the investment round, though details remain tentative as talks are still ongoing.

The venture aims to develop AI models that could identify new therapeutic applications for existing FDA-approved drugs, potentially reducing time-to-market compared to traditional drug development processes.

This move aligns with growing investor interest in applying machine learning to life sciences, as evidenced by recent funding rounds for similar startups like Chai Discovery ($400 million at $3.8 billion valuation) and Isomorphic Labs ($2.1 billion Series B).

Wang's new company may also explore repurposing drugs that failed initial clinical trials, leveraging AI to predict molecular interactions and uncover novel uses.

The initiative reflects a broader trend of tech talent transitioning from large research organizations to entrepreneurial ventures focused on healthcare innovation.