Isomorphic Labs, the drug discovery start-up led by Sir Demis Hassabis, has accelerated spending on staff and research, as the new Nobel Prize winner expands an ambitious push to “solve” diseases.
The London-based group, spun off from Google DeepMind, the technology giant’s artificial intelligence arm, has reported that losses widened to £60mn in 2023, its first full year of operations. Losses were £17mn a year earlier.
Research and development costs grew to £49mn last year, up from £12mn, according to accounts recently filed with Companies House. The company also increased hiring in 2023, with staff costs tripling from £6.6mn to £20mn and headcount up from 43 to 71.
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