Chai Discovery, an AI-driven drug discovery company, has successfully completed a $70 million Series A financing round led by Menlo Ventures, raising its total funding to $100 million. This substantial capital injection is a direct result of a significant scientific breakthrough with the company's Chai-2 series of models, which has achieved a near-20% hit rate in the fully de novo design of antibodies. This marks a monumental leap forward, as traditional lab methods often require screening billions of candidates for a hit rate of less than 0.1%, while previous computational methods only reached 0.1%. Chai-2's ability to design novel, effective antibodies from scratch, using only the target antigen and epitope as input, transforms the traditionally slow and costly process of drug discovery from a trial-and-error science into a more predictable and efficient engineering discipline. The company, founded by a team with expertise from top-tier AI and tech companies like OpenAI and Stripe, will utilize the funding to further develop its platform, targeting previously inaccessible molecular challenges, and to onboard a select number of partners. The company's vision and potential have also attracted Dr. Mikael Dolsten, the former Chief Scientific Officer of Pfizer, who has joined the board of directors, lending his extensive experience in advancing dozens of medicines to market and underscoring the transformative potential of Chai Discovery's technology.