Market Chatter: Alphabet's Isomorphic Labs Seeks to Raise up to $50 Billion in Funding Round
MT Newswires Live
3 hours ago
Alphabet's (GOOG, GOOGL) drug startup Isomorphic Labs is in early talks to raise new funds at a valuation of $40 billion to $50 billion, Bloomberg reported Thursday, citing unnamed people familiar with the matter.
The company, spun off from DeepMind, seeks to reduce the time to develop new drugs, the report said. It has already formed partnerships with Eli Lilly (LLY) and Novartis (NVS), the report added.
Isomorphic Labs did not immediately reply to MT Newswires' request for comment.
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