“Falling below the scientific intelligence of one’s adversary at a corporate level, at a sovereign level, is almost like an unimaginable competitive disadvantage,” said Geoffrey von Maltzahn, co-founder and CEO of Lila Sciences, at the conference on Tuesday. NVIDIA’s Kimberly Powell, vice president of healthcare, was more direct: “If we defund now, while the rest of the world leans in—which Europe is leaning in, which a lot of the Asian countries are leaning in—we will be left behind.”

The duo made the case that the scientific method and agentic AI are, structurally, the same thing: pose a question, gather context, observe, reason, act. The implication being that the moment to pour resources in is now, not later. 

AI drug discovery is a $3.25 billion market today, growing at roughly 26% annually and projected to top $10 billion by 2031. And the broader bet on AI drug discovery has drawn serious capital—Demis Hassabis’s Isomorphic Labs raised a $2.1 billion Series B earlier this year—but the money is flowing into a space where timelines are long and finish lines move.

Lila Sciences, the Flagship Pioneering spinout Von Maltzahn leads, has raised $550 million to build what it calls scientific superintelligence—AI systems running the scientific method around the clock across materials, chemistry, and life sciences. Lila’s agents recently identified catalysts for splitting water into hydrogen and oxygen that outperform the precious metals the industry currently relies on. A third of those suggestions, he noted, made no sense to his Caltech-trained team at first. They’re now the highest-performing catalysts on record.

“I think to many people this Claude Code-esque moment—when a new intelligence gets injected into science and changes it forever thereafter—may not feel imminent,” Von Maltzahn said. “But it is right around the corner.”

Powell’s role in all this is foundational. NVIDIA invests in open-source biology foundation models, antibody design models, and multimodal models that companies like Lila adapt for specific scientific goals. “If it’s only closed models that exist,” she said, “there’s not a lot of ability to create the conditions that all of these applications across life sciences can thrive in the age of AI.”

As for one of the key unresolved questions—how do you get FDA sign-off on a molecule that an AI designed when you can’t trace back the training data that produced it—Powell sees a future digital twin model of biology precise enough that regulators will eventually accept in silico evidence. “We’re just not there yet,” she said.

See you tomorrow,

Lily Mae Lazarus
X: @LilyMaeLazarus
Email: lily.lazarus@fortune.com
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VENTURE DEALS

- NinjaOne, an Austin, Texas-based IT operations management platform, raised $400 million in Series C extension funding from Wellington Management, Teachers’ Venture Growth, Sequoia Capital, ICONIQ, and others.

- Standard Bots, a Glen Cove, New York-based AI-native industrial robotics company, raised $200 million in Series C funding. RoboStrategy and existing investors led the round.

- Element Biosciences, a San Diego, Calif.-based DNA sequencing technology company, raised $175 million in Series E funding from Samsung Electronics, as well as an undisclosed amount from other investors.

- SonoThera, a South San Francisco-based genetic medicine developer, raised $125 million in Series B funding. Vida Ventures led the round and was joined by ARK Invest, CureDuchenne Ventures, Leaps by Bayer, Otsuka Pharmaceutical, SymBiosis, UCB Ventures, Vivo Capital, and existing investors.

- Evotrex, a Los Angeles, Calif.-based maker of intelligent, power-generating RVs, raised $30 million in Series A funding from GSR United Capital, Forebright Concerto Capital, Unique Capital, Pegasus Capital, and others.

- Cellares, a South San Francisco-based integrated development and manufacturing organization (IDMO) for cell therapies, raised $20 million in Series D funding from ARK Invest.

- Vinyl Equity, a Chicago, Illinois-based fintech infrastructure provider for capital markets and corporate transactions, raised $20 million in Series A funding. Jump Capital led the round and was joined by MUFG Innovation Partners, Index Ventures, Spark Capital, Infinity Ventures, and Cambrian Fintech.

- NewOrbit, a Reading, U.K.-based satellite manufacturer focused on small spacecraft for commercial and government customers, raised $18.5 million in Series A funding. Voyager Ventures led the round and was joined by angel investors.

- Journey, a New York City-based loyalty and guest-experience platform for hotels and high-end residences, raised $15 million in seed funding. FirstMark and Headline led the round.

- Golden Analytics, a Bellevue, Washington-based AI-native analytics platform for enterprise data teams, raised $14 million in a seed extension led by Insight Partners.

- Volund, a Huntington Beach, California-based manufacturer of propulsion systems and digital factory infrastructure for aerospace and defense customers, raised $12 million in seed funding. Squadra Ventures and Root Ventures led the round and were joined by Marlinspike, Output Ventures, and First In.

- Rivvun AI, a Seattle, Washington-based autonomous AI execution layer that connects commercial contracts to financial settlement, raised $7.6 million in seed funding. Sitara Capital and 3one4 Capital led the round.

- Mesoware, a Palo Alto, California-based developer of automation infrastructure for robotics and industrial systems. Pillar VC led the round.

PRIVATE EQUITY

- ARCHIMED acquired IRAB, a Barcelona, Spain-based specialist in the development, production, and commercialization of positron emission tomography (PET) pharmaceuticals. Financial terms were not disclosed.

- Gemspring Capital acquired a minority stake in Comoto Holdings, a Philadelphia, Pennsylvania-based powersports aftermarket retailer. Financial terms were not disclosed.

- Novara, backed by Providence Equity Partners, acquired Ensogo, a Toronto, Canada-based AI-native sustainability platform. Financial terms were not disclosed.

- VMG Partners acquired a minority stake in Stars + Honey, a Detorit, Mich.-based snack brand. Financial terms were not disclosed.

EXITS

- Novanta acquired Riverpoint Medical, a Portland, Ore.-based medical device design, development, and manufacturing company, from Arlington Capital Partners. Financial terms were not disclosed.