Pathos AI raises $237 million at $3B valuation

Pathos AI on October 23, 2026 closed a $237 million Series E led by Bristol Myers Squibb at about $3 billion post-money valuation, up from $1.6 billion in May 2025. The New York company also announced a collaboration with Bristol Myers Squibb and Tempus AI to build AI tools for Alzheimer's and other neurological diseases. Pathos will license neurological-disease data from hundreds of thousands of patients from Tempus under a five-year, $55 million agreement and apply its Foundry platform to generate hypotheses and inform trial design. Bristol Myers receives non-exclusive strategic access to Foundry portfolio-wide plus three-year exclusive rights for neuroscience programs. Pathos said the capital will scale Foundry and advance four clinical assets, with priority on JSKN016, a first-in-class TROP2/HER3 bispecific antibody-drug conjugate moving toward registrational studies, plus pocenbrodib in mCRPC and RRMM, AstraZeneca-partnered AZD4241, and DO-2. CEO Iker Huerga said the firm is "building a platform to systematically improve the probability of success in drug development" and that Foundry has "fundamentally accelerated" identification of clinical assets. No center- or right-rated coverage appeared in the record; left-rated outlets focused on the raise, valuation, and oncology pipeline.