Top 25 AI Companies Close to Clinical Impact in 2024
The AI drug discovery sector is experiencing remarkable growth, with market projections reaching $3.7 billion by 2027. AI-enabled approaches are significantly streamlining the drug development process, reducing preclinical development timelines by 25-50% compared to traditional methods. But what really matters is if AI-enabled medicines are getting into the clinic.
Among the numerous companies pioneering AI-driven drug development, several organizations stand out for their significant progress toward clinical impact. There’s been a ton of innovation in this sector that we wanted to include, so it’ll be slightly more than 25!
Looking ahead to 2025, the AI drug development field anticipates several pivotal clinical readouts that will serve as critical validation points for AI-driven approaches. Most notably, Insilico Medicine's drug for solid tumors will reach key Phase 2 milestones in the second half of 2025, representing one of the first AI-designed molecules to advance this far in clinical development. The recently merged Recursion-Exscientia entity expects Phase 2 data for REC-994 in cerebral cavernous malformation by Q3 2025, while Valo Health's ROCK 1/2 inhibitor for diabetic retinopathy should yield Phase 2 results by year-end.
In earlier-stage development, Generate Biomedicines anticipates Phase 1 results for their AI-designed antibody GB-0669 in Q2 2025, offering insights into the potential of AI for biological drug design. Additional Phase 1 readouts are expected from Verge Genomics ALS program and HotSpot Therapeutics solid tumor program, both leveraging AI platforms for novel target identification.
These upcoming milestones are significant as they represent the first comprehensive wave of therapeutics designed in collaboration between scientists and AI that reach meaningful clinical endpoints. Success across these trials would validate multiple aspects of AI drug development, from accelerated timelines and novel molecular design to innovative target identification. The field will be watching these results closely, as positive data could catalyse increased investment and adoption of AI approaches across the pharmaceutical industry.
Below is a non-exhaustive list of the leading companies that have already demonstrated substantial success in clinical trials, have advanced pre-clinical programs, or are emerging platforms.
Top Clinical Leaders*
- Insilico Medicine: Notable for reducing drug development timelines from 5+ years to 18 months, with seven assets in Phase 1/2 including ISM5939 (oral ENPP1 inhibitor for solid tumors), and four additional assets with IND clearance. INS018_055 recently had Phase IIa completed with good tolerability and safety.
- Recursion Pharmaceuticals + Exscientia: Recently merged company advancing six assets in Phase 1/2 including REC-994 for cerebral cavernous malformation and DSP-0038 for psychiatric disorders, with nine additional programs in IND-enabling stages.
- Lantern Pharma: Portfolio includes three priority assets in NSCLC, solid tumors, and non-Hodgkin's lymphoma, two collaborative assets in breast cancer and solid tumors, plus one asset through Starlight Therapeutics subsidiary in glioblastoma, with one lead candidate in Phase 2 and two recently initiated Phase 1 programs.
- Gritstone Bio: Advancing Phase 1/2 programs in KRAS-driven tumor types, including GRANITE (individualized neoantigen targeting immunotherapy) for colorectal cancer, along with off-the-shelf vaccine programs for KRAS, COVID-19, and HIV vaccine in Phase 1.
- BioAge: Developing three Phase 2 assets focused on type 2 diabetes and obesity, including a first-in-class oral therapeutic APJ antagonist.
- Nimbus Therapeutics: Advancing three clinical programs including HPK1 inhibitor showing positive Phase 1/2 data in advanced solid tumors, with two programs acquired from Takeda and Gilead, focusing on oncology, liver disease, and immunology.
- Schrödinger: Maintains three clinical-stage assets in priority pipeline plus multiple partnered programs and collaborations, notably including partnership with Nimbus Therapeutics leading to $6 billion Takeda acquisition for psoriasis treatment.
- Relay Therapeutics: Advancing RLY-4008 in Phase 1 for FGFR2-altered cancers and RLY-2608 for breast cancer and solid tumors in early clinical stages Phase 1.
- Valo Health: Developing ROCK 1/2 inhibitor in Phase 2 for Diabetic Retinopathy and S1P1 agonist for Heart Failure and Acute Kidney Injury, both in Phase 2 stage.
- Generate Biomedicines: Advancing Phase 1 study of GB-0669 (first AI-generated viral neutralizing antibody for SARS-CoV-2) and asthma treatment, plus six undisclosed programs with Amgen and multiple undisclosed programs with Novartis.
- Nobias Therapeutics: Conducting Phase 2 clinical trial of lead program NB-001 (small-molecule mGluR activator) and second asset targeting co-morbid ADHD with mGluE activation.
- BenevolentAI: Successfully repurposed baricitinib for COVID-19 in 14 months, with three novel targets in partnership with AstraZeneca for kidney disease and heart failure, plus additional partnership with Merck in oncology, neurology, and immunology covering multiple targets.
- Verge Genomics: Utilizing AI-powered human genomics platform to advance one clinical asset targeting ALS and Parkinson's disease.
- HotSpot Therapeutics: Advancing HST-1011 in Phase 1 for solid tumors, a selective inhibitor of Casitas B-lineage lymphoma proto-oncogene, with IND-enabling studies ongoing for precision oncology asset HST1021.
- Totus: Conducting Phase 1/1b study of TOS-358 for PI3KCA mutant cancers, targeting hormone-receptor positive breast, urothelial, endometrial, and head & neck cancers expressing PI3K-alpha mutations.
- Enveda Biosciences: Phase 1 study ongoing on atopic dermatitis. Three assets in IND-enabling stage around IBD, cholestatic conditions, and obesity.
- Athos Therapeutics: Developing one clinical-stage small molecule asset targeting inflammatory bowel disease, lupus, and diabetes.
- GV20 Therapeutics: Advancing Phase 1 Anti-IGSF8 immunotherapy program targeting solid tumors.
- Hummingbird Biosciences: Developing one Phase 1 monoclonal antibody asset in oncology with upcoming clinical proof-of-concept readouts.
- Healx: Advancing one Phase 1 asset for Neurofibromatosis with an additional IND-enabling program in Fragile X syndrome within rare neurology.
- Gain Therapeutics: Developing one Phase 1 asset targeting GBA1-Parkinson's Disease and Idiopathic Parkinson's Disease.
*by number of assets in clinic
Companies with Advanced Preclinical Programs
- DeepCure: Small Molecule Therapeutics for Immune Diseases.
- Insitro: Machine learning platform for liver and CNS diseases. Advancing novel treatments for metabolic diseases with Lilly.
- Atomwise: AtomNet platform collaborating with 250+ organizations on 600+ diseases. Four proprietary immunology assets in the optimization stage.
- Engine Biosciences: Precision oncology asset ENB-812 for ovarian, liver, colorectal, prostate, and lung cancers in IND-enabling phase.
- AbCellera: Two preclinical programs, ABCL575 and ABCL635, are currently in IND-enabling studies. IND submissions for both ABCL575 and ABCL635 are anticipated in 2025.
- Seismic Therapeutics: Two assets in IND-enabling stages for T-cell and antibody mediated disease.
- Evariste: One asset in IND-enabling stages targeting PKMYT1.
(Bonus) Emerging Platforms
- Nabla Bio: New AI protein design system, JAM, capable of designing high quality lead antibodies de novo given just a target protein sequence and/or structure
- Isomorphic Labs: Announced strategic collaborations with two of the world’s leading pharmaceutical companies, Eli Lilly and Company and Novartis. Building on AlphaFold in active partnership with Google DeepMind.
- Deep Genomics: Pioneering RNA therapeutics platform. Flagship platform, BigRNA, is the world’s first RNA foundation model for RNA therapeutics.
- Relation Therapeutics: Lab in the loop platform for therapeutics across osteoporosis, immunology and metabolism.
- Xaira: $1 billion seed round with Arch Venture Partners and Foresite Labs.
- Noetik: Announced first-in-class human foundation models - one of the largest multimodal spatial datasets of human tumor biology,
As we look to the future, it's clear that the AI drug discovery landscape is poised for groundbreaking clinical breakthroughs in 2025 and beyond. The companies highlighted in this list represent a new wave of innovation, blending cutting-edge AI technologies with deep scientific expertise to accelerate the path from discovery to patient impact. These pioneers are not only demonstrating the potential of AI to reshape drug development but are also setting the stage for a broader industry transformation. With key clinical milestones on the horizon, the next few years will be critical in validating the promise of AI-driven therapeutics. Success here will not only benefit patients but also inspire a new era of innovation and investment in this exciting intersection of technology and healthcare.
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