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Problem

Predicting small-molecule / protein binding for unseen chemistry

Given a protein target and a small molecule (SMILES), predict whether and how strongly it binds (and ideally the bound pose), for chemical scaffolds and pockets that are not in the training data. Commercially this is the core of computational hit-finding and lead optimisation: a model that generalises would replace large parts of wet-lab screening (DEL, HTS) and physics-based free-energy calculations in every small-molecule drug program. Today's models mostly memorise: BELKA winners scored well on shared building blocks but performed at roughly random-pick level on a held-out novel library, and co-folding models lose much of their accuracy on complexes dissimilar to training. A reasonable 'solved' criterion: on prospectively tested, scaffold-novel chemistry (e.g. a held-out DEL library or a CACHE-style blind round), top-100 predicted binders confirm at a hit rate far above the library base rate (e.g. >=10x enrichment, or >=10% confirmed hits vs the ~0.7% seen in CACHE #2), and affinity predictions reach FEP-level accuracy (~1 kcal/mol MAE) on targets with <30% similarity to training complexes.

Funding

$4.54B

Raised by the 7 companies working on it.

Prize money for solving it$0
Open competition pools$0

Why it is still open

Independent benchmarks published through 2026 show binding/pose predictors still largely memorise: Runs N' Poses (Nature Structural & Molecular Biology, May 2026) finds AlphaFold3, Chai-1, Boltz-1 and Protenix accuracy drops sharply on complexes dissimilar to training; the BELKA winner found 2/100 true binders on one novel-library target and 0/100 on the other two, i.e. random-pick level. Isomorphic's IsoDDE (Feb 2026) reports only ~50% pose accuracy on the <20%-similarity bucket and is not independently benchmarked.

Source: nature.com

Who is working on it

Isomorphic Labs$2.70B IsoDDE drug design engine (Feb 2026) claims 2x AlphaFold 3 on low-similarity protein-ligand pose prediction plus binding-affinity prediction beating physics-based methods, used on internal pipeline and Lilly/Novartis/J&J partnerships. InvestorsThrive Capital, Alphabet, GV, MGX, Temasek, CapitalG, UK Sovereign AI Fund, Thrive Capital
Terray Therapeutics$200M Ultra-dense microarray binding measurements (billions of molecule-target data points) feeding generative/predictive models for small-molecule design. InvestorsBedford Ridge Capital, NVentures (NVIDIA), Maverick Capital, Madrona Ventures, Two Sigma Ventures, XTX Ventures
Boltz (PBC)$28M MIT spinout behind open Boltz-1/Boltz-2 models; Boltz-2 jointly predicts protein-ligand structure and binding affinity, now offered as a hosted platform with a Pfizer collaboration. InvestorsZetta Venture Partners, Amplify Partners, Andreessen Horowitz, Factorial Capital, Obvious Ventures
Leash Biosciences$9.3M Generates massive in-house DEL binding data (BELKA, ~4.25B measurements) and trains the Hermes sequence+SMILES binding model explicitly benchmarked on out-of-distribution chemistry. InvestorsSpringtide Ventures, MetaPlanet, Top Harvest Capital, Mitsui Global Investment, MFV Partners, Chris Gibson (Recursion co-founder)
insitro$643M ML-driven drug discovery platform whose small-molecule chemistry arm uses learned models for hit finding and optimisation, but the core differentiator is ML on cellular/genetic data for target discovery. InvestorsCPP Investments, Andreessen Horowitz, T. Rowe Price, BlackRock, ARCH Venture Partners, GV, Temasek, SoftBank Investment Advisers
Chai Discovery$625M Chai-1 open co-folding model predicts protein-small-molecule complexes; the company's commercial focus has since shifted toward de novo antibody design (Chai-2/Chai-3). InvestorsIndex Ventures, Kleiner Perkins, Sequoia Capital, Oak HC/FT, General Catalyst, Menlo Ventures (Anthology Fund), Thrive Capital, OpenAI
Iambic Therapeutics$334M NeuralPLexer protein-ligand structure predictor and Enchant property/endpoint model drive an internal small-molecule oncology pipeline; NeuralPLexer licensed to Revolution Medicines. InvestorsSequoia Capital, Regeneron Ventures, Mubadala, Qatar Investment Authority, ARK, Abingworth, Illumina Ventures

Also active

Deep Genomics AI platform (BigRNA) for RNA biology and oligonucleotide therapeutics; not a small-molecule binding company, contributes at most adjacent ML tooling. InvestorsSoftBank Vision Fund 2, CPP Investments, Fidelity Management & Research, Khosla Ventures, True Ventures, Amplitude Ventures
Polaris Hub Hosts standardised drug-discovery benchmarks and blind competitions (ASAP-Polaris-OpenADMET 2025, full BELKA data, Runs N' Poses) - provides the measuring stick, not models.

Funding for these is not counted: the problem is a small part of what they do, or they contribute data and tools.

Prizes

What counts as solved

The acceptance condition, stated in Lean 4. Measurements a computer cannot produce on its own are named inputs, supplied by whoever attests them.

import Mathlib

/-!
# Predicting small-molecule / protein binding for unseen chemistry

Modelled on Leash Bio BELKA (Kaggle): classify binders vs non-binders per protein
target from DNA-encoded-library screens, scored by average precision (AP), with the
hard part being test molecules built from building blocks / scaffolds absent from
training. Polaris/ASAP-style affinity tracks can be added as a second board.

Concrete in Lean: the submission (target × SMILES → score), average precision over a
finite labelled list, mean AP over targets, and "beats pinned baseline by δ on the
novel-chemistry split, and on every target individually does not fall below baseline".

Opaque oracle (`Split`): the hidden molecules and binder labels (DEL enrichment calls
or measured affinity past a cutoff), and the attestation that the split is truly
out-of-distribution (no shared building blocks / Bemis–Murcko scaffolds with training).
Attester: the data owner (Leash, Polaris, CACHE organisers).

Units: AP dimensionless in [0, 1].
-/

namespace OpenSpur.Problems.SmallMoleculeBinding

structure Molecule where
  smiles : String

abbrev Model (nT : ℕ) := Fin nT → Molecule → ℝ

noncomputable section

/-- Average precision over (score, isBinder) pairs:
mean over positives i of precision among items scoring ≥ score_i. -/
def averagePrecision (xs : List (ℝ × Bool)) : ℝ :=
  let pos := xs.filter (·.2)
  (pos.map fun p =>
      ((xs.filter fun q => decide (p.1 ≤ q.1) && q.2).length : ℝ) /
      ((xs.filter fun q => decide (p.1 ≤ q.1)).length : ℝ)).sum / pos.length

/-- Hidden novel-chemistry split for one target (oracle). -/
structure Split where
  molecules : List (Molecule × Bool)   -- label: binder
  baselineAP : ℝ

def ap (s : Split) (f : Molecule → ℝ) : ℝ :=
  averagePrecision (s.molecules.map fun m => (f m.1, m.2))

def meanAP {nT : ℕ} (splits : Fin nT → Split) (f : Model nT) : ℝ :=
  (∑ t, ap (splits t) (f t)) / nT

def meanBaseline {nT : ℕ} (splits : Fin nT → Split) : ℝ :=
  (∑ t, (splits t).baselineAP) / nT

structure Thresholds where
  margin : ℝ        -- δ on mean AP, e.g. 0.05
  minPositives : ℕ  -- per target

def Solved {nT : ℕ} (T : Thresholds) (splits : Fin nT → Split) (f : Model nT) : Prop :=
  0 < nT ∧
  meanBaseline splits + T.margin ≤ meanAP splits f ∧
  ∀ t, T.minPositives ≤ ((splits t).molecules.filter (·.2)).length ∧
       (splits t).baselineAP ≤ ap (splits t) (f t)

def rung (T : Thresholds) (k : ℕ) : Thresholds :=
  { T with margin := T.margin + (k : ℝ) / 50 }

end

theorem rung_mono {nT : ℕ} (T : Thresholds) (s : Fin nT → Split) (f : Model nT) {j k : ℕ}
    (hjk : j ≤ k) (h : Solved (rung T k) s f) : Solved (rung T j) s f := by
  have hc : (j : ℝ) ≤ k := by exact_mod_cast hjk
  obtain ⟨h0, h1, h2⟩ := h
  refine ⟨h0, ?_, h2⟩
  simp only [rung] at h1 ⊢
  linarith

end OpenSpur.Problems.SmallMoleculeBinding

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