Pathos AI closes $237 million Series E led by Bristol Myers Squibb

Pathos AI closed a $237 million Series E led by Bristol Myers Squibb, the company announced. Pathos put its post-money valuation at approximately $3 billion and said existing investors also participated, but it did not identify those investors or disclose check sizes, ownership stakes or other financing terms.

Pathos said it will use the proceeds to expand Foundry, its AI-assisted drug-development platform, and advance its clinical oncology pipeline. Pathos named moving JSKN016 toward registrational studies as a key priority. The company also plans to support pocenbrodib, the AstraZeneca-partnered AZD4241 and the MET kinase inhibitor DO-2.

Pathos describes Foundry as a system in which thousands of specialized AI agents synthesize clinical, genomic, specimen and competitive data to inform drug-program decisions. According to the company, the platform can identify patient subpopulations, guide trial changes and eliminate high-risk development paths. The supplied evidence does not independently establish those performance claims or provide comparative performance data.

Bristol Myers Squibb’s ties to Pathos go beyond leading the round. A Tempus AI Form 8-K says BMS separately licensed Foundry. The filing also documents a five-year agreement under which Tempus will seek to provide Pathos with as many as 500,000 de-identified neurology patient records and an analysis tool for work involving BMS. Pathos agreed to pay up to $55 million over five years.

JSKN016 is a TROP2/HER3 bispecific antibody-drug conjugate. Pathos said in August that it licensed rights outside mainland China, Hong Kong, Macau and Taiwan from Alphamab Oncology for $125 million upfront, as much as $2.093 billion in milestone payments and tiered royalties. Pathos has not specified when or where the planned registrational study will start.