Pathos AI raised $237 million in a Series E led by Bristol Myers Squibb, pushing the company’s valuation to about $3 billion. The financing expands Pathos’ AI-driven drug discovery efforts, which it describes as using probability-of-success calculations from its Foundry agent system. The company is also expanding from oncology into neurological conditions, citing new datasets from Tempus AI and a partnership with BMS focused first on Alzheimer’s treatments. Pathos previously positioned its platform as helping prioritize clinical assets, populations, and trial designs. The funding underscores continued investor and pharma confidence in AI-first discovery platforms despite ongoing debate about translation risk from computational prediction to clinical outcomes. In parallel, the BMS involvement adds to a growing pattern of large pharma seeding AI capabilities in-house and through equity stakes rather than purely licensing.