Bloomberg: Isomorphic Labs, The Alphabet company spun out of Google DeepMind is negotiating a roughly $5B raise at about $50B, with no drug yet tested in people.

Their product is a drug-design engine built on AlphaFold 3. It predicts how proteins in the body fold and how a candidate drug molecule will latch onto them.
Chemists normally find this out through slow, expensive lab trial and error, so the engine lets them design and rank molecules on a computer first and only make the promising ones.

If software predicts how a candidate molecule binds its protein target, chemists can drop weak designs before paying for synthesis and animal studies.

Without human data, a $50B price rests on prediction accuracy and pharma partnerships, not evidence that its molecules work in patients.