Pathos AI has raised $237 million in Series E financing at a post-money valuation of approximately $3 billion to expand its agentic AI drug development platform and advance a growing portfolio of clinical-stage oncology programs. The financing was led by Bristol Myers Squibb, with participation from existing investors.
Pathos plans to use the capital to expand the capabilities of Foundry, its proprietary AI platform, and accelerate development of the company’s oncology pipeline, which now includes four active clinical assets.
A primary use of the financing will be advancing JSKN016 toward registrational studies. The asset is a first-in-class TROP2/HER3 bispecific antibody-drug conjugate being developed for TROP2/HER3-expressing solid tumors.
The funding will also support clinical development of pocenbrodib in metastatic castration-resistant prostate cancer and relapsed or refractory multiple myeloma, along with AZD4241, a novel estrogen receptor PROTAC partnered with AstraZeneca, and DO-2, a next-generation MET kinase inhibitor.
Pathos has expanded its clinical-stage portfolio through a series of strategic transactions, using Foundry to evaluate assets and guide portfolio decisions.
The Foundry platform operates through thousands of specialized AI agents that continuously aggregate and analyze information associated with individual drug programs. The system combines clinical data, genomics, biological specimen information, and changes in the competitive landscape to support development decisions.
According to Pathos, Foundry is designed to identify biological subpopulations most likely to respond to a therapy, guide potential clinical trial adjustments, and flag higher-risk development paths earlier in a drug’s lifecycle.
The company is using the platform not only to identify potential clinical assets but also to continually update probability-of-success assessments and monitor ongoing clinical development.
Pathos is focused on oncology indications including metastatic castration-resistant prostate cancer, multiple myeloma, MET-altered non-small-cell lung cancer, ER-positive/HER2-negative breast cancer, and TROP2/HER3-expressing solid tumors.
The new financing gives Pathos additional resources to scale its AI infrastructure while advancing multiple programs toward key clinical milestones.
KEY QUOTES:
“We are building a platform to systematically improve the probability of success in drug development. Foundry has fundamentally accelerated our ability to identify highly promising clinical assets and integrate them into our pipeline. This capital allows us to rapidly scale our AI engine while actively steering our current programs toward key clinical milestones, ensuring we deliver the right therapies to the right patient populations.”
Iker Huerga, CEO Of Pathos
