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Austin, Texas, USA, October 1st / PRNewswire / -- It is estimated that the global AI drug discovery market will grow from $19.89 billion in 2025 to $160.49 billion in 2035, with a compound annual growth rate of 23.22%. Companies active in this market this week include MindWalk Holdings Corp (Nasdaq ticker: HYFT), AbCellera Biologics Inc (Nasdaq ticker: ABCL), Eli Lilly, and, Company (New York Stock Exchange ticker: LLY), Twist Bioscience Corporation (Nasdaq ticker: TWST), as well as Tempus AI and Inc (Nasdaq ticker: TEM).
Other forecasting agencies have different estimates for the market size, but the directions are consistent. Grand View Research predicts that the drug discovery market will grow from $2.9 billion in 2026 to $13.8 billion in 2033, with a compound annual growth rate of 24.8%. Global Market Insights expects the market to grow from $4 billion in 2026 to $43.9 billion in 2035, with a compound annual growth rate of 30.5%, and cites generative AI, predictive analytics, and multi-omics data as driving factors.
There is a significant gap between these estimates, which reminds us that these are third-party forecasts for the entire industry, and the definitions of “AI drug discovery” vary from one to another. They do not represent the reachable revenues of any company mentioned in the text.
What these predictions all point to is that the industry is moving from the experimental phase to deployed infrastructure. The listed companies in this group are reporting on software contracts, data licensing agreements, financing, and clinical trial plans, rather than just research milestones, and some of this progress has occurred in the past few weeks.
This shift raises a practical issue for investors. When the AI platform is applied to regulated life science workloads, data integrity and governance become part of what the company sells, and the people responsible for overseeing the company become even more important. A board appointment announced this week in Austin, Texas, illustrates this point directly.
MindWalk Holdings Corp. (Nasdaq ticker: HYFT) Appoints Senior Banker, Licensed Trustee Kim Remizowski as Independent Director of the Board of Directors
- Appointed as an independent director, will join the Audit Committee as well as the Governance, Nomination, and Remuneration Committees.
- The board of directors determined that he meets the qualifications for an independent director under Nasdaq's listing rules and also complies with the financial expert standards for the audit committee as stipulated by the SEC rules.
- 35 years of experience in institutional banking and entrusted supervision
- Recently serving as a private equity director at Vistra, Vistra is a global enterprise services group that operates in over 50 jurisdictions.
- Previously served as a board member at Merrill Lynch Bank, and, Trust Company, and Cayman. Also held the position of Managing Director at DMS Bank & Trust Ltd. Worked at the Royal Bank of Canada for 17 years.
- Certified director by the Canadian School of Governance, and holds a licensed director qualification issued by the Cayman Islands Financial Services Authority.
MindWalk Holdings Corp. ("MindWalk") announces the appointment of Kim Remizowski as an independent director of the board of directors. Mr. Remizowski will join the Audit Committee as well as the Governance, Nomination, and Compensation Committees. The board of directors believes that he meets the qualifications for an independent director under Nasdaq listing rules and also complies with the financial expert standards for the Audit Committee as stipulated by SEC.
MindWalk indicates that Mr. Remizowski has recently served as a Private Equity Director at Vistra, responsible for overseeing the governance of investment funds and holding structures, and collaborating with fund sponsors, institutional allocators, and family offices in North America, Europe, Latin America, and the Caribbean. According to MindWalk, he has previously held positions as a resident director at Merrill Lynch Bank, Trust Company ( Cayman ), and Ltd. There, he was in charge of the governance, regulation, and statutory reporting of this licensed Class B bank, covering loan, deposit, and investment services; he also served as the Managing Director of DMS Bank & Trust Ltd, responsible for the bank's strategic direction, operations, finance, and compliance. He led the private client trust and corporate team at Intertrust Group (now CSC), and began his career at the Royal Bank of Canada, where he progressively advanced over 17 years from roles in branch management, inspection, to operations, eventually taking responsibility for regional affairs at 13 branches.
He is a trust and estate practitioner of STEP, an associate member of the Canadian Bankers Association, and holds a digital asset advisory certification. At the same time, he continuously pays attention to the governance of emerging technologies, including artificial intelligence and digital assets.
MindWalk indicates that this appointment comes at a time when the company is expanding its recurring, ongoing platform deployments with life science clients. These deployments are based on ReefIQ ™ – a life science biological context layer driven by HYFT ® technology. The company states that service-oriented life science workloads make data integrity and governance a core part of its value proposition, and also highlight the importance of independent financial and governance oversight at the board level.
The Chief Executive Officer and President, Jennifer Bath, stated: " Kim brings that level of governance depth, and when a company transitions from building technology to large-scale deployment, this depth becomes a supporting force. What we sell to regulated life science workloads is infrastructure, and the credibility of this positioning depends on both the quality of governance and the quality of science. Kim has served as a bank director and licensed trustee within regulated financial institutions for 35 years, and he brings this level of governance discipline to our board of directors and its committees. We are delighted to welcome him to join our board."
Mr. Remizowski stated: " MindWalk is building the infrastructure for life sciences AI and is responsible for the governance of this infrastructure. I am very familiar with such discipline on the financial institution side. I look forward to working with Dr. Bath, the chairman, and all the directors, and to bringing the rigor of regulated financial supervision into the board of directors committee as the company expands."
MindWalk Holdings Corp. (Nasdaq ticker: HYFT) is a Bio - Native AI company that is building the BioIntelligence infrastructure required for life science AI and agentic AI. It integrates AI, data, and advanced wet laboratory capabilities into an interconnected discovery ecosystem. At its core is HYFT ® technology, which is a proprietary, functionally aware approach to biological representation. Its HYFT fingerprinting covers sequence biology and structural biology, and after 20 years of development, it has formed a continuously evolving system of biological representation that includes 660 million patterns and 25 billion relationships. This representation system is the architectural foundation for ReefIQ ™, which is a biological context layer that can enhance data during ingestion and becomes more valuable with each project running on it; it is also the architectural foundation for LensAI ™. LensAI ™ is the reasoning and application layer used for target discovery, candidate screening, portfolio decision support, and the agentic AI workflows that pharmaceutical companies are competing to deploy. By design, value grows exponentially in the HYFT representation layer, rather than in any single AI model running on it.
The company faces several risks. The appointment of the board of directors does not automatically bring in customers, contracts, or revenue, and there is no guarantee that new directors will be able to contribute as expected to governance, supervision, and strategic direction. The risks include maintaining compliance with NASDAQ listing standards, transforming customer engagement into signed, ongoing platform arrangements and retaining and expanding these arrangements, establishing the compliance and governance capabilities required for regulated life science workloads, market acceptance of ReefIQ and LensAI, intellectual property risks, competition, as well as capital market and economic conditions. Investors should refer to the annual report MindWalk, Form 20-F Form, and other documents available at SEDAR + ( sedarplus.ca ) and EDGAR ( sec.gov / edgar ).
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There are also other industry developments and updates in the market this week, including:
AbCellera Biologics Inc. (Nasdaq ticker: ABCL)
AbCellera operates an antibody discovery engine and has shifted to developing its own clinical-stage projects, which makes it the closest analogy to the "discovery + pipeline" model described by MindWalk among listed companies, albeit on a much larger scale. On August 10th, the company announced positive top-line results for the phase 2 portion of its phase 1/2 trial, which targeted ABCL635, a neurokinin 3 receptor antagonist antibody under development. This antibody is intended to be used as a non-hormonal, long-acting, subcutaneous injection therapy for the treatment of moderate to severe menopausal-related vasomotor symptoms. The study met its primary endpoint, with a single dose reducing the frequency and severity of hot flashes in the fourth week compared to placebo. The company stated that it will present more phase 2 data at the IMS World Menopause Congress, which will be held from September 30th to October 3rd.
The balance sheet has also strengthened with the data. AbCellera reports that as of the second quarter, its total cash balance and tradable securities exceeded $565 million, with an additional $110 million in non-diluted government funds available; its collaborations with Jazz Pharmaceuticals in June 2026 and plc in July 2026 resulted in over $100 million in upfront cash payments. AbCellera founder and CEO, Dr. Carl Hansen, stated: "Since the last business update, we have signed two new collaborations, one with Jazz and another with Vertex, to advance our projects into the clinical phase using our T-cell connector platform." AbCellera is significantly larger in scale than MindWalk and has more capital, but it is still in a loss-making state, which is a normal situation for platform-based companies undergoing a transformation towards positive asset development.
Pfizer Inc.
Pfizer is on the demand side of this market, and the way it chooses to purchase AI capabilities directly indicates where the differentiation is shifting. On January 8, 2026, the company announced a strategic partnership with Boltz and PBC, handing over the biomolecular AI base model and generative workflows to their scientists for the design of small molecules and biologics. The models Boltz-2 and BoltzGen from Boltz are open-source models that have been widely used in the industry for protein design, biomolecular structure prediction, and affinity estimation.
It is the structure of this arrangement that is worth learning from. According to the cooperation agreement, Boltz will utilize Pfizer's own historical data to optimize its base model, generating proprietary models for structural prediction, small molecule affinity, and biopharmaceutical design. Scientists from Boltz will work alongside Pfizer's discovery team, while Pfizer retains full ownership of any compounds discovered or developed using these models. A company that possesses one of the industry's most substantial data assets has chosen to license an open-source model and then differentiate it with its proprietary data, rather than betting on the model itself. The same structural argument is presented by MindWalk for its own approach, although the path taken is independent and the scale is completely different. Pfizer is mentioned in the text only as a background for the requirements side.
Eli Lilly and Company (New York Stock Exchange ticker: LLY)
Eli Lilly has always been one of the most active buyers in enabling discovery capabilities for AI. In 2026, it began to package its data into a platform for others to build upon. On September 16th, Twist Bioscience Corporation (Nasdaq ticker: TWST) and Ginkgo Bioworks Holdings, Inc all announced agreements with Lilly TuneLab. Lilly TuneLab is a collaborative drug discovery platform established by Lilly, which provides participating companies with access to AI and machine learning models trained using Lilly's own research data.
The division of labor among these protocols is noteworthy. The models come from pharmaceutical companies; the data that makes them useful is provided by specialized companies, among which Twist contributes antibody characterization data, and Ginkgo provides discovery data generation through its Ginkgo Datapoints products. Lilly also holds a strategic equity stake of 40 million dollars in Absci Corporation's June 2026 financing, which amounted to approximately 100 million dollars. Lilly and Ginkgo mentioned in the text are only used as market and industry context and are not comparable entities to the companies discussed.
Twist Bioscience Corporation (Nasdaq Code: TWST)
Twist is located at a further downstream stage of the industrial chain, producing synthetic DNA and next-generation sequencing tools for use as raw input in the discovery industry. Nowadays, it also sells data services to the AI platforms owned by pharmaceutical companies. In May 2025, the company revised its DNA supply partnership with Ginkgo Bioworks. Its role in TuneLab is to provide antibody characterization data to companies that run Lilly training models, which puts it in a position adjacent to the antibody discovery work centered around the MindWalk platform.
Operational data is moving in the right direction. Twist announced that in the third quarter of fiscal year 2026, revenue reached $118.4 million, a year-over-year increase of over 23%, marking the 14th consecutive quarter of growth; the gross margin was 52.8%, up from 51.6% in the previous quarter; NGS application revenue grew by 12% to $61.8 million. The company has raised its full-year revenue forecast for fiscal year 2026 to $456 million to $457 million and reiterated its expectation to achieve EBITDA break-even in the fourth quarter of fiscal year 2026. CEO and co-founder Emily M. Leproust stated: "That milestone is not the end point. It is the foundation for us to pursue disciplined execution and profit growth in fiscal year 2027." Twist is a supplier that sells "shovels and hoes," not a software company, and its scale is also significantly larger than that of MindWalk.
Tempus AI, Inc. (Nasdaq ticker: TEM)
Tempus is a concrete and public proof of this point: pharmaceutical clients are willing to pay for organized data, not for models. The company sells precision medical diagnostics while also operating a data licensing business, providing clinical and molecular data to drug developers. On September 11th, the company launched a plan to build a multi-modal whole-genome dataset, starting with 100,000 genesets related to diseases and linked to longitudinal clinical outcomes, with a goal of reaching 1 million; this data is currently available through Early Adopter Program and is scheduled to be fully open by the middle of 2027. The founder and CEO, Eric Lefkofsky, stated, "Only when large datasets can be transformed into insights do they have value."
Ten days later, Tempus extended its collaboration with Recursion Pharmaceuticals and Inc since 2023 until November 2029, replacing the original discretionary fees that could have totaled up to 84 million US dollars over two years with a three-year commitment to pay 42 million US dollars. At the same time, Tempus also obtained the proprietary RNA sequencing base model TxFM of Recursion under a non-exclusive global license. Tempus, the CEO of Ryan Fukushima's data and applications business, stated: "We are delighted to extend our collaboration with Recursion beyond the initial commitment period, which proves the continued value of this partnership." The renewal is indeed the part worth emulating. A data license that is extended and converted into a committed payment term, rather than letting it expire and become invalid, appears from an external perspective to be a durable data asset; and this is precisely the economic model that MindWalk advocates at the more downstream, discovery level. The scale of Tempus is completely different from that of the aforementioned companies and is only mentioned in the text as industry background.
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Prompt notes regarding the company's statements: The information in this document regarding MindWalk Holdings Corp, its board of directors' appointments, platform arrangements, and customer arrangements is derived from the company's own announcements and has not been independently verified by us. Board of directors appointments do not guarantee future outcomes, and no content in this document indicates or implies that they will result in customer contracts, revenue, or profits. Statements regarding the company's signed, repeatable platform deployments come from the company itself; however, the company has not disclosed the number of customers, the quantity of deployments, or the value of the contracts. Market size data is third-party forecasts for the entire industry and does not represent the reachable revenue for MindWalk or any of the companies mentioned in this document. Investors should refer to MindWalk's annual report Form 20-F, as well as other documents available at SEDAR + ( sedarplus.ca ) and EDGAR ( sec.gov / edgar ).
The companies mentioned in the text include AbCellera Biologics Inc (Nasdaq ticker: ABCL), Pfizer Inc, Eli Lilly, and, Company (New York Stock Exchange ticker: LLY), Twist Bioscience Corporation (Nasdaq ticker: TWST), Ginkgo Bioworks Holdings, Inc, Tempus AI, Inc (Nasdaq ticker: TEM), Recursion Pharmaceuticals, Inc, Absci Corporation, Jazz Pharmaceuticals, plc, Vertex Pharmaceuticals Incorporated, and Boltz. These are mentioned only as part of the market and industry context. These companies are not peers, competitors, or financially comparable to MindWalk; there are significant differences between them in terms of scale, stage, capital structure, and business model, and they did not participate in the preparation of this document. Their performance, financing, collaborations, and stock price movements cannot represent the prospects of MindWalk. None of the content in this article indicates or implies any commercial relationship, partnership, affiliation, or endorsement between MindWalk and any of these companies. The market size figures mentioned are third-party forecasts for the entire industry and do not represent the reachable revenue of MindWalk or any of the companies mentioned in the text.
Trademarks. HYFT ® is a registered trademark of MindWalk Holdings Corp. ReefIQ ™ and LensAI ™ are trademarks of MindWalk Holdings Corp; ReefIQ ™ is currently under application for registration. All other logos mentioned in this text are the property of their respective owners.
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