Isomorphic Labs, an Alphabet-affiliated AI drug design company with ties to DeepMind, raised $2.1 billion in a Series B round led by Thrive Capital with participation from Alphabet. The financing is described as one of the largest private biotech rounds and follows a $600 million round last year. The company said it will scale its Isomorphic Labs Drug Design Engine (IsoDDE) to accelerate AI-powered discovery, citing performance improvements over AlphaFold 3 on protein–ligand benchmark tasks. In reported evaluations, IsoDDE improved predictions of novel structures, binding affinities, and ligand pocket discovery, including identification of cryptic allosteric sites linked to cereblon. With the capital infusion, Isomorphic Labs is effectively doubling down on computational oncology and immunology discovery workflows—areas where pipeline de-risking and target validation can attract premium valuation multiples.