Pathos AI, a New York company that uses AI to run its own drug pipeline, is moving into neuroscience with two of the better-known names in biopharma data and development. On October 23 it announced multi-year partnerships with Bristol Myers Squibb and Tempus AI aimed at Alzheimer's disease and other neurological conditions, and said it had closed a $237 million Series E led by BMS at a post-money valuation of roughly $3 billion. Reuters and Fierce Biotech reported the deals.
The arrangement splits into data, software and access. Tempus will compile de-identified records, tracked over time, for several hundred thousand people with neurological disorders, and Pathos will license it over five years for $55 million. Tempus's securities filing the same day puts numbers on that promise: Tempus will make commercially reasonable efforts to deliver 500,000 patient records, 100,000 a year, at $100 per record plus $5 million for updates, and it is also licensing an analysis tool it calls the Tempus Agent. Pathos can sublicense both to BMS.
BMS, for its part, gets non-exclusive access to Pathos's Foundry platform across its wider R&D portfolio and three years of exclusive rights to use it in neuroscience development. Pathos says Foundry will be used to probe the neurology data at scale, generate and test hypotheses about disease biology and shape more targeted, adaptive clinical trials. The company describes the platform as a system of thousands of specialised AI agents that continuously pull together clinical, genomic and competitive information to recommend the next decision for a drug program.
The filing shows the deal is larger than the neurology piece alone. In a separate statement of work signed on October 14, BMS will pay Tempus $137.5 million through 2031 for oncology data, access to Tempus's Lens software and related services, and that licence covers use of the data inside Foundry. Together the agreements bring Tempus $192.5 million over about five years. Tempus also disclosed that deals with Pathos fall under its related-person transaction policy because the two companies overlap in leadership and ownership, so a special committee of independent directors approved them.
The Series E money is earmarked mostly for Pathos's oncology pipeline, which now holds four clinical-stage assets. The company named JSKN016, a TROP2/HER3 bispecific antibody-drug conjugate it wants to take into registrational studies, along with pocenbrodib, the AstraZeneca-partnered ER PROTAC AZD4241 and a MET inhibitor called DO-2. According to Fierce Biotech, the neurology pact is Pathos's first step outside cancer, following earlier deals with AstraZeneca and Novo.
For BMS, the move fits a broader bet on AI in clinical development. The drugmaker expanded a separate trial-design collaboration with Tempus in May and is pursuing Alzheimer's programs that include testing Cobenfy for agitation and psychosis and a phase 2 anti-tau antibody, Fierce noted.
Much of the case for the deal rests on claims that have not been tested in neurology. Pathos says it built and validated its approach in oncology, including adjusting trials in real time to improve projected odds of success, but it has not published outcome data showing that Foundry improves approval rates. The neurology dataset will also arrive gradually over five years, and Tempus's fees depend on how many records it actually delivers.