Pathos AI, a New York-based clinical-stage biotechnology company using artificial intelligence to develop new medicines, raised $237 million in a Series E funding round led by Bristol Myers Squibb, with participation from existing investors.
The financing, announced on October 23, 2026, valued the company at approximately $3 billion on a post-money basis. Pathos plans to use the capital to expand its AI-powered drug development platform, Foundry, and advance its clinical-stage oncology pipeline.
Founded in 2022 by Eric Lefkofsky and Ryan Fukushima, Pathos develops experimental cancer therapies using AI and patient data to guide drug selection, clinical trial design and development decisions. The company is led by CEO Iker Huerga, who joined in 2025.
Its proprietary Foundry platform uses specialized AI agents to analyze clinical information, genomic data, biological samples and research developments. The system supports decisions about which drug candidates to pursue, how to structure clinical trials and which patient populations may be most suitable for particular treatments.
A major priority for the new funding is advancing JSKN016, an investigational TROP2/HER3 bispecific antibody-drug conjugate, toward registrational studies. The company will also support the clinical development of pocenbrodib, which targets prostate cancer and multiple myeloma; AZD4241, an estrogen receptor-targeting therapy being developed in partnership with AstraZeneca; and DO-2, a MET kinase inhibitor for certain lung cancers.
Alongside the financing, Pathos announced strategic collaborations with Bristol Myers Squibb and Tempus AI focused on Alzheimer’s disease and other neurological disorders. Under a five-year, $55 million agreement, Tempus will develop a longitudinal patient dataset for Pathos to analyze using Foundry.
Bristol Myers Squibb will also receive access to the platform across its broader research and development portfolio, including exclusive rights for its neuroscience development programs for three years.
The Series E follows Pathos AI’s $365 million Series D financing in May 2025 and supports the company’s continued development of AI-guided drug research and clinical programs.
