The UK’s £500m Sovereign AI Fund is in talks to back Potential Sciences, a London-based drug discovery startup seeking to raise £500m in a major funding round.
The proposed investment would make the government-backed fund a major investor as the company develops AI-driven technology designed to accelerate the discovery of new drug molecules.
Potential Sciences is reportedly attracting interest from other investors, with the Sovereign AI Fund potentially anchoring the round. Josephine Kant, the fund’s head of ventures, is also expected to join the startup’s board if the investment proceeds.
The fund could provide more than capital, with discussions reportedly including access to computing capacity to support Potential Sciences’ AI development.
The deal would put government-backed capital behind a UK startup operating at the intersection of artificial intelligence and life sciences.
Neither Potential Sciences nor the government has confirmed the terms of the proposed investment.
