Pathos raises $237 million in Series E led by Bristol Myers Squibb

Pathos is raising $237 million in a Series E fundraising round led by Bristol Myers Squibb. The company announced the deal on Friday, which brings its valuation to approximately $3 billion.

The artificial intelligence-driven drug development firm is expanding from oncology to neurological conditions. This move includes new datasets from Tempus AI and a partnership with Bristol Myers Squibb that will first focus on Alzheimer’s treatments.

Pathos operates a proprietary model named Foundry, which utilizes thousands of agents to calculate the probability of success for its clinical assets. These agents analyze clinical data, genomics, biological specimen data, and competitive activity from other developers. The resulting information guides Pathos’s decision-making processes regarding which drugs to pursue, the specific populations to test them in, and the design of clinical trials. The company asserts that its approach aims to improve the odds of drug development success, a metric where most drugs entering clinical trials do not reach patients.