Pathos AI raised $237 million in a Series E led by Bristol Myers Squibb, pushing the company’s valuation to around $3 billion. The funding expands Pathos’ pipeline and platform adoption across oncology and neurology, where the company is adding datasets from Tempus AI and a partnership with BMS focused initially on Alzheimer’s treatments. Pathos’ Foundry system is built around distributed agents that assess clinical data, genomics, specimens, and competitive intelligence to rank candidate bets and design trials. Management positions the approach as improving probability of success by narrowing development choices earlier in the process. For venture investors and large pharma, the round signals continued capital commitment to AI-first discovery platforms, particularly when backed by strategic partners that can translate model output into trial operations.