Pathos AI has closed a $237 million series E round led by pharma giant Bristol Myers Squibb on the same day that the two companies signed a cutting-edge Alzheimer's disease-focused collaboration.
Pathos announced a two-fold partnership on Friday with BMS and Tempus AI aimed at neurological drug development. Pathos is a tech-focused company using its Foundry platform to speed up clinical development while mitigating risks.
Alongside the partnership with BMS, Pathos has tasked Tempus with creating a comprehensive dataset from hundreds of thousands of patients with neurological conditions to help guide adaptive clinical trials in the neuroscience space. Pathos will pay $55 million for a five-year contract and will use the Foundry platform to investigate the dataset.
Foundry is built as a hive of AI agents working together to paint a comprehensive picture of a drug program's informational flow in real time. Taking into account data points across the drug development arena, from genomics to competitive factors, the platform aims to provide “continuous intelligence” to help biopharmas make precise strategy decisions, according to an Oct. 22 release.
BMS, which led the funding round, will also work with both Pathos and Tempus to explore potential new drug candidates for neurological conditions such as Alzheimer's. Pathos said existing investors had also joined the round, which follows a $365 million series D in May 2025 and a $62 million series C in October 2024.
With several other pharma partnerships in tow, Pathos has used its AI platform to establish a pipeline of oncology prospects, including a phase 3 TROP2/HER3 bispecific antibody-drug conjugate (ADC) licensed from Alphamab Oncology, a preclinical proteolysis-targeting chimera (PROTAC) targeting estrogen receptor-positive, HER2-negative breast cancer, and a CBP/p300 inhibitor for patients with prostate cancer and multiple myeloma, which is licensed from Novo.
The ADC from Alphamab, dubbed JSKN-106, is a key priority for funding, according to the company. Alongside the AstraZeneca-partnered PROTAC AZD4241, another stated priority is a MET kinase inhibitor called DO-2 picked up within a majority stake in Belgium's DeuterOncology.
Some of the series E cash will also be used to scale the Foundry platform, Pathos explained.
“We are building a platform to systematically improve the probability of success in drug development,” Pathos CEO Iker Huerga said in the release. “Foundry has fundamentally accelerated our ability to identify highly promising clinical assets and integrate them into our pipeline.”