Key points
- Bristol Myers leads Pathos AI's new funding round
- Tempus AI to build Pathos a neurology dataset
- What Bristol Myers gets from Pathos's Foundry platform
Pathos AI announced partnerships with Bristol Myers Squibb (BMY) and Tempus AI (TEM) on Friday to develop AI tools and a patient dataset for research into Alzheimer's and other neurological diseases. Bristol Myers also led Pathos's Series E funding round, which raised $237 million and valued the New York-based company at about $3 billion.
"Neurological diseases demand more than any one company can bring on its own," Pathos chief executive Iker Huerga said in the company's release. Bristol Myers also gets access to Pathos's AI platform for its drug research.
Tempus shares rose about 6% on Friday, while Bristol Myers shares fell about 2.4%. Pathos is privately held.
Tempus will build the dataset
Under a five-year, $55 million agreement, Pathos will license a de-identified dataset that Tempus plans to build from "hundreds of thousands of patients with neurological conditions." De-identified means names and other details that could identify a patient are removed. The release says the data is designed to track outcomes over time. Tempus will apply the infrastructure and expertise it has built in oncology to create the dataset, according to the release. The companies gave no date for when it will be ready.
Pathos will run the data through Foundry, its AI platform, to "generate and test hypotheses on disease biology" and to inform the design of "more targeted, adaptive clinical trials." Pathos built that approach in cancer drug development, where the release says it guides decisions across the company's clinical-stage pipeline.
"Making meaningful progress against a disease as devastating as Alzheimer's requires unprecedented data scale and computing power," said Eric Lefkofsky, Tempus's founder and chief executive.
Bristol Myers gets access to Foundry
Bristol Myers gets non-exclusive access to Foundry across its broader research and development portfolio. It also gets what the release calls "three-year exclusive rights to support its neuroscience development programs." The release doesn't say whether those rights bar other companies from using Foundry for neuroscience work. The drugmaker aims to "identify patients most likely to benefit from potential therapies and design more precise clinical trials," according to the release.
"Our investment in Pathos reflects our commitment to applying advanced AI and data science across research and development to accelerate innovation for patients," said Simon Davies, senior vice president and head of data and quantitative sciences at Bristol Myers.
The release doesn't say how much of the Series E Bristol Myers put in or what it pays for the platform access. It also names no specific Bristol Myers drug program the platform will support.
Pathos plans to spend on Foundry and cancer drugs
Existing Pathos investors also joined the round. The company raised a $365 million Series D in May 2025 and a $62 million Series C in October 2024.
Pathos plans to use the new money to scale Foundry and advance its pipeline, including the experimental cancer drug JSKN016 and a breast cancer drug partnered with AstraZeneca, Reuters reported. The company's clinical-stage programs cover prostate cancer, multiple myeloma, lung cancer, breast cancer, and other solid tumors.
"Intelligence alone does not bring a therapy to market," Huerga said.
