Pathos, an artificial intelligence-driven drug development company, announced on Friday it is raising $237 million in a Series E fundraising round led by Bristol Myers Squibb. The deal brings Pathos’ valuation to approximately $3 billion.
Pathos is also expanding from oncology to neurological conditions with new datasets from Tempus AI and a partnership with BMS that will first focus on Alzheimer’s treatments.
Most drugs that enter clinical trials never reach patients, but Pathos’ pitch is that AI can improve the odds. Its proprietary model, Foundry, operates thousands of agents that calculate the probability of success for its clinical assets. The agents analyze clinical data, genomics, biological specimen data, and competition from other developers. This information guides Pathos’s decision-making on which drugs to pursue, what populations to test them in, and how to design the clinical trials.