Pathos AI raises $237M at a $3B valuation in a round led by Bristol Myers Squibb

Pathos AI, a New York company that applies AI to developing cancer drugs, announced a $237 million Series E on 23 October 2026, valuing it at about $3 billion. Bristol Myers Squibb led the round, joined by existing investors that include AstraZeneca, NEA and General Atlantic. It is the largest of the company's rounds on valuation so far, roughly doubling the figure set at its Series D a year and a half earlier.

The financing comes with a three-way partnership between Bristol Myers Squibb, Pathos and Tempus AI. Under it, Pathos will pay Tempus $55 million over five years to license anonymised neurology patient data, and Bristol Myers Squibb also gets access to Pathos's Foundry platform and to that dataset. That makes the drugmaker both the lead investor and a customer of the platform, and ties the funding to a concrete data deal rather than cash alone.

Foundry is Pathos's core product, and the thing the company is selling to partners as much as using itself. It holds roughly 200 petabytes of oncology data, and AI agents use it to rank drug candidates, match patients to them and plan trials built around biomarkers. The company says this raises the odds of success in drug development and has sped up how quickly it picks promising clinical assets and folds them into its pipeline, in the words of its chief executive.

The company has four clinical programs: JSKN016, a bispecific antibody-drug conjugate aimed at TROP2 and HER3; pocenbrodib; AZD4241, run with AstraZeneca and aimed at the oestrogen receptor, which SiliconANGLE describes as a PROTAC; and DO-2, a MET inhibitor. The two outlets that covered the round agree on the headline figures and differ only in how they label the AstraZeneca-linked program. The new money will go to Foundry and these programs, with JSKN016 the furthest along and heading toward registrational studies.

Pathos was founded in 2022 by Eric Lefkofsky and Ryan Fukushima, and Iker Huerga is its chief executive. Its previous rounds were a $62 million Series C in October 2024 at a $600 million valuation, led by NEA, and a $365 million Series D in May 2025 at about $1.6 billion.