Isomorphic Labs, the Alphabet-backed AI drug discovery company, closed a $2.1 billion Series B round led by Thrive Capital, with participation from Alphabet and Google’s GV, plus other global investors including MGX, Temasek, CapitalG and the U.K. AI fund. The funding is slated to expand Isomorphic’s unified drug design engine, IsoDDE, and accelerate its in-house pipeline toward the clinic. The company pointed to prior collaborations where Big Pharma partners tasked Isomorphic with using AlphaFold-based modeling to find small molecules for undisclosed targets. With the round among the largest ever for a biotech startup, the message to the industry is that AI-first discovery companies are still attracting scale capital to move from models to measurable clinical programs.