BullFrog AI
BullFrog AI (NASDAQ: BFRG) sells an end-to-end explainable AI platform — bfPREP, bfLEAP, and bfARENAS — to pharmaceutical, biotech, and research institution customers for clinical data harmonization, biomarker and target discovery, and portfolio decision support.
- Company typePublic
- Founded2021
- HeadquartersGaithersburg, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What BullFrog AI does
BullFrog AI Holdings, Inc. (NASDAQ: BFRG) is a publicly traded, AI-focused drug development technology company founded in 2021 and headquartered in Gaithersburg, Maryland. It sells an end-to-end explainable AI workflow to pharmaceutical, biotechnology, and research institution buyers, anchored on three integrated products: bfPREP™, which cleans and harmonizes fragmented clinical, multi-omics, imaging, and real-world datasets; bfLEAP®, a causal and graph-analytic AI platform originally developed at Johns Hopkins University Applied Physics Laboratory under an exclusive license, used for patient subgroup identification, biomarker discovery, and drug target prioritization; and bfARENAS™, a scenario-based decision engine for portfolio strategy and clinical trial design. BullFrog Data Networks® and an in-licensed drug pipeline (BF-222 glioblastoma, BF-223 mebendazole prodrug, BF-114 obesity/liver disease) round out the offering.
The company makes money primarily through project-based, quote-priced platform service engagements with large pharma, supplemented by milestone payments tied to defined deliverables and optional exclusive-rights licensing on identified drug targets. Its first commercial feasibility agreement, signed March 30, 2026 with a top-5 global pharmaceutical company for major depressive disorder target identification, is its anchor commercial reference. Other named collaborators include Eleison Pharmaceuticals, H. Lee Moffitt Cancer Center, and the Lieber Institute for Brain Development (LIBD). As of December 31, 2025, BullFrog reported an accumulated deficit of approximately $23.3 million and a cash balance of approximately $2.3 million; a Nasdaq compliance matter was resolved in April 2026, with management stating the runway now extends into late 2027.
BullFrog AI firmographics
Firmographics- Name
- BullFrog AI
- Legal name
- Bullfrog AI Holdings, Inc.
- Website
- https://bullfrogai.com
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- BullFrog AI (NASDAQ: BFRG) sells an end-to-end explainable AI platform — bfPREP, bfLEAP, and bfARENAS — to pharmaceutical, biotech, and research institution customers for clinical data harmonization, biomarker and target discovery, and portfolio decision support.
- Ownership category
- akta.pro rank
BullFrog AI industry classification
Industry- Product category
- AI-Driven Drug Development Platform
- NAICS
- Software Publishers (5132), Scientific Research and Development Services (5417), Research and Development in Biotechnology (except Nanobiotechnology) (541714)
- SIC
- Services-Prepackaged Software (7372), Services-Commercial Physical & Biological Research (8731), Pharmaceutical Preparations (2834)
- akta.pro primary industry
- AI/ML Platforms for Drug Discovery & Experiment Optimization (HLAGAJAO)
- akta.pro secondary industries
- RNA Therapeutics Platforms & Design (sequence design, target ID/validation, AI/bioinformatics) (HLAAADAG), Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE)
Keywords
Where BullFrog AI is headquartered
LocationHeadquarters
- HQ city
- Gaithersburg
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
BullFrog AI business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Platform Service Fees: Fees charged for using bfPREP™, bfLEAP®, and bfARENAS™ platforms for pharmaceutical data analysis and decision support. Engagements begin with collaborative data audit, followed by customized AI model development and ongoing high-value outputs.
- Milestone Payments: Payments tied to defined deliverables in commercial agreements with pharmaceutical partners. The March 2026 top-5 pharma agreement includes milestone payments for specific achievements in drug target identification.
- In-Licensed Drug Pipeline: Revenue potential from proprietary drug development programs including BF-222 (glioblastoma), BF-223 (novel mebendazole prodrug), and BF-114 (obesity/liver diseases) through exclusive worldwide license agreements.
- Exclusive Rights Options: Partners may secure exclusive rights to target candidates for R&D purposes, generating potential future revenue streams.
Go-to-market motion3 records
Distribution channels1 record
Marketing channels7 records
BullFrog AI product offering
Product offeringCore offering
BullFrog AI develops and licenses an end-to-end AI-driven drug development platform consisting of bfPREP™ for data cleaning and harmonization, bfLEAP® for causal AI biomedical analysis, and bfARENAS™ for scenario-based portfolio decision-making. The company sells platform service engagements and project-based contracts to pharmaceutical, biotechnology, and research institution clients to identify drug targets, stratify patients, and optimize clinical trial design.
Product overview
BullFrog AI offers an end-to-end AI-driven drug development platform consisting of three integrated products: bfPREP™ for AI-powered data cleaning and harmonization, bfLEAP® for causal AI analysis and biomedical data interpretation, and bfARENAS™ for scenario-based decision-making in portfolio strategy and clinical trial design. The platform is complemented by BullFrog Data Networks® for multi-omics integration and a strategic CNS partnership with the Lieber Institute. The company also maintains an in-licensed drug pipeline of proprietary candidates (BF-222, BF-223, BF-114).
Differentiator
Problem solved
Functional benefit
Brands
- bfPREP™: AI-powered data preparation platform for life sciences that transforms raw, fragmented biomedical data into clean, harmonized, AI-ready assets. Includes data cleaning, harmonization, and feature engineering capabilities.
- bfLEAP®
- bfARENAS™
- BullFrog Data Networks®
Products and services
- bfLEAP® Award-winning explainable AI platform that uncovers biologically meaningful patterns, subgroups, and drivers hidden within complex, multimodal datasets using graph analytics and Random Subspace Mixture Models. Enables patient subgroup identification, drug target discovery, biomarker identification, and clinical trial optimization for pharmaceutical and biotech R&D teams.
- bfPREP™ AI-driven data cleaning and harmonization platform that transforms raw, fragmented biomedical data into clean, AI-ready assets. Eliminates errors, normalizes formats across clinical, omics, imaging, and real-world data, and prepares data for downstream analysis. Reduces data prep time by up to 80%.
- bfARENAS™ Scenario-based decision engine for pharmaceutical portfolio strategy and clinical trial design. Evaluates drug programs, targets, biomarkers, and trial designs through head-to-head comparison across multiple strategic scenarios, producing transparent and defensible rankings to drive portfolio confidence.
- BullFrog Data Networks® AI-powered bioinformatics solution that integrates public, proprietary, and custom multi-omics datasets using the bfLEAP® platform to reveal actionable biological insights for precision drug discovery, target validation, and clinical development.
- In-Licensed Drug Pipeline (BF-222, BF-223, BF-114) Proprietary in-licensed drug development pipeline including BF-222 (repurposed small molecule for glioblastoma), BF-223 (novel mebendazole prodrug with US patent for glioblastoma), and BF-114 (nucleic acid therapeutic for obesity and chronic liver diseases), held under exclusive worldwide license agreements.
- CNS Target Discovery Target discovery offering leveraging BullFrog AI's causal AI and machine learning technology alongside the Lieber Institute for Brain Development's brain expression data to enable discovery and development of precision treatments for CNS disorders including major depression, schizophrenia, and bipolar disorder.
Quantifiable outcome
- Nearly 3x improvement in mean survival identified in pancreatic cancer patient subgroups through biomarker analysis
- +2 more outcomes
Companies that use BullFrog AI
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
BullFrog AI technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature7 records
BullFrog AI partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and secondary.
- Top 5 Global Pharmaceutical CompanycoreFirst commercial feasibility agreement signed March 30, 2026 to use bfLEAP® platform for identifying and prioritizing drug targets in major depressive disorder (MDD). Agreement includes milestone payments tied to defined deliverables and option for exclusive rights to final selected target candidate. Market for MDD drugs valued at over $8 billion in 2025, projected to exceed $11 billion by 2032.
- Lieber Institute for Brain Development (LIBD)coreStrategic partnership for CNS drug target discovery. LIBD maintains the largest collection of postmortem brains for neuropsychiatric disorder study. Partnership has identified novel subgroups within major depression, schizophrenia, and bipolar disorder using BullFrog AI's causal AI and machine learning technology.
- Eleison PharmaceuticalscoreCollaboration using bfPREP™ and bfLEAP® platforms for pancreatic cancer research. Converted over 10,000 pages of clinical PDF documents into clean, integrated data. Identified patient subgroups showing nearly threefold improvement in mean survival. Findings presented at 2026 ASCO GI Symposium.
- H. Lee Moffitt Cancer CentercoreCollaboration on pancreatic cancer research using bfLEAP® platform. Identified key biomarkers in glufosfamide clinical trial data demonstrating enhanced survival in patient subgroups. Research findings accepted for presentation at American Society of Clinical Oncology's Gastrointestinal Cancers Symposium.
- Sygnature DiscoverysecondaryPartnership with CRO Sygnature Discovery mentioned in investor webinar announcement, indicating collaboration in drug discovery services.
- Xtalks Life SciencessecondaryPartnership for webinar hosting and educational content. Xtalks hosted 'Turning AI Recommendations into Clear, Defensible Decisions' webinar on March 27, 2026 featuring BullFrog AI's Juan Felipe Beltrán.
Scale indicators12 records
Recent moves7 records
Expansion highlights5 records
BullFrog AI competitors and assessment
Company assessmentDirect peers
- Recursion Pharmaceuticals: Publicly traded AI drug discovery platform (NASDAQ: RXRX) combining high-throughput biology with ML to identify novel therapeutics. Most directly comparable to BullFrog's bfLEAP target-discovery and patient-stratification capabilities.
- Schrödinger: Publicly traded computational chemistry and molecular simulation platform (NASDAQ: SDGR) serving pharma R&D with physics-based and AI-driven drug design software. Comparable to BullFrog as a software-first AI platform selling into pharma R&D budgets.
- Exscientia: AI-driven drug discovery company combining ML with automated lab capabilities to design and develop small-molecule therapeutics. Directly comparable AI-first pharma services platform with similar enterprise-pharma customer profile.
- Insilico Medicine: Clinical-stage AI drug discovery company with end-to-end platform spanning target identification through clinical development, including proprietary pipeline assets. Highly comparable end-to-end AI workflow plus in-house pipeline model.
- Valo Health: AI-powered drug discovery and development platform integrating human data and ML across the pharma R&D value chain. Closely comparable to BullFrog's data-network-driven approach and platform-plus-pipeline hybrid model.
- Atomwise: AI-driven small-molecule drug discovery company using structure-based deep learning to accelerate hit identification and lead optimization. Comparable enterprise-pharma AI target-discovery offering.
- BenevolentAI: AI-driven drug discovery company combining knowledge graphs and ML to identify novel targets and develop therapeutics. Comparable AI target-identification and patient-stratification use cases, with public listing (AMS: BAI).
Emerging players
- Owkin: AI-biopharma company applying ML to multi-omics and real-world patient data for target discovery and clinical trial optimization in oncology and other therapeutic areas. Comparable AI-platform-for-pharma model with focus on biomedical data analytics.
Broad incumbents
- Isomorphic Labs: Alphabet-owned AI drug discovery subsidiary leveraging DeepMind's protein-structure prediction and broader ML capabilities. Broad incumbent competitor with deeper resources but similar AI-first pharma platform thesis.
Others
- NVIDIA (BioNeMo / Clara): Provides foundation models and compute infrastructure (BioNeMo, Clara) used by AI drug discovery platforms including BullFrog peers. Adjacent enabling technology rather than direct competitor, but a strategic supplier and ecosystem reference point for AI-driven pharma workflows.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
BullFrog AI social profiles
Digital presenceBullFrog AI compliance and trust
Trust signalCompliance3 records
BullFrog AI financial estimates
Financial estimateRevenue estimate
Valuation estimate
BullFrog AI leadership team
Management profileNumber of profiles
Profiles15 records
BullFrog AI funding detail
Funding detailFunding overview
Funding rounds4 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BullFrog AI M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BullFrog AI
What does BullFrog AI do?
BullFrog AI develops and licenses an end-to-end AI-driven drug development platform consisting of bfPREP™ for data cleaning and harmonization, bfLEAP® for causal AI biomedical analysis, and bfARENAS™ for scenario-based portfolio decision-making. The company sells platform service engagements and project-based contracts to pharmaceutical, biotechnology, and research institution clients to identify drug targets, stratify patients, and optimize clinical trial design.
Is BullFrog AI a public or private company?
BullFrog AI is a public company. It is classified as public and is currently operating.
When was BullFrog AI founded?
BullFrog AI was founded in 2021. It employs 11 to 50 people.
Where is BullFrog AI based?
BullFrog AI is headquartered in Gaithersburg, United States, in the North America region.
How does BullFrog AI make money?
Four revenue lines are on record. Platform Service Fees are the primary driver. The others are milestone Payments, in-Licensed Drug Pipeline and exclusive Rights Options.
Who are BullFrog AI's main competitors?
Direct peers on record are Recursion Pharmaceuticals, Schrödinger, Exscientia, Insilico Medicine, Valo Health, Atomwise and BenevolentAI. Owkin is listed as an emerging player. Isomorphic Labs is listed as a broad incumbent. NVIDIA (BioNeMo / Clara) is listed as an others.
Does BullFrog AI have an API?
No public API is recorded for BullFrog AI.
What industry is BullFrog AI in?
BullFrog AI's product category is AI-Driven Drug Development Platform. Its primary akta.pro industry code is HLAGAJAO, AI/ML Platforms for Drug Discovery & Experiment Optimization, with a secondary code of HLAAADAG, RNA Therapeutics Platforms & Design (sequence design, target ID/validation, AI/bioinformatics). Its NAICS code is 5132 and its SIC code is 7372.