AI Drug Developer Pathos Raises $237M Series E Led by Bristol Myers Squibb

Pathos, an AI-driven drug development company, announced on October 26, 2026 that it has completed a $237 million Series E financing round. The round was led by Bristol Myers Squibb (BMS), with participation from existing shareholders and Alphamab Oncology. The company's post-investment valuation is approximately $3 billion.

On the same day, Pathos announced two long-term strategic collaborations with BMS and Tempus AI, expanding its AI drug development capabilities from oncology into neuroscience, with Alzheimer's disease as the first focus area. As the lead investor, BMS obtained two key rights: a non-exclusive license to use Pathos's Foundry AI platform across its entire pipeline, and exclusive rights to the neuroscience development program for three years.

The global AI drug discovery market is growing rapidly. The market size was estimated at approximately $2.49 billion in 2025 and is projected to exceed $46 billion by 2035. In addition to BMS, major pharmaceutical companies including AstraZeneca, Eli Lilly, and Novartis have also increased their investments in AI-driven drug development.