'Accelerating the serendipity' – Lessons from PendingAI Founder Dr Mark Waller

How can a small team use emerging technologies to tackle some of the biggest challenges in novel drug discovery? 

That was the focus of the latest Sydney Quantum Academy (SQA) Quantum Innovators Network event, Building the Future of Drug Discovery, delivered in collaboration with venue partner Stone & Chalk.  

The event featured an address by Dr Mark Waller, Founder and CEO of Pending AI, followed by a fireside chat chaired by Clarissa Driver, Head of People and Operations at Archer Materials.  

Two worlds collide: From academia to tech start-up  

Mark shared his inspiring founder journey, starting in chemistry research which was published in Nature as well as global appointments at research institutes in Germany and China.  

Central to his story is the willingness to pivot when fresh opportunities emerged. After a failed crystallography experiment in Japan left him “empty-handed”, Mark shifted his focus to computational and theoretical approaches – a decision that would ultimately lead him to found a company in 2018 developing AI-powered and quantum mechanics-based tools to accelerate molecular design and drug discovery. 

“Experimental work is hard, and I quickly realised the bench wasn't where my strengths lay. So I focused on what I'm good at – modelling and simulation,” he said.   

Advice for budding entrepreneurs: focus on your strengths 

Throughout the evening, Mark highlighted how advances in GPU-based computation have transformed the possibilities in molecular discovery. His team developed machine learning models capable of generating and evaluating vast numbers of molecular candidates, helping researchers more rapidly identify promising compounds before they ever reach the laboratory. 

Rather than relying solely on costly physical experimentation, Mark described the growing role of simulation and computational screening in reducing time, cost and risk throughout the drug discovery process. 

"The theme of tonight's talk is you don't need large funding, and you don't need a large team. You can do a lot with a little if you solve the technical problems in a clever way,” he said. 

“In drug discovery, we have this ‘design, make, test, analyse’ loop. We do it again and again until we find something that’s interesting – and then we dig deeper. So, it’s really about accelerating the serendipity. 

“Filter out in silico as much as you can and focus on the candidates that you think will give you positive ROI.” 

Navigating the ups and downs of entrepreneurship 

For students and early-career researchers in attendance, Mark’s story also offered valuable insights into pursuing entrepreneurship and commercialising research.  

Before PendingAI became a fully-fledged enterprise, Mark encountered many of the challenges familiar to deep-tech founders – including intellectual property negotiations, fundraising hurdles and building interdisciplinary teams – as well as those that come from balancing academic and commercial demands.  

During the fireside chat, Dr Waller and Clarissa explored broader trends shaping the future of drug discovery, including the convergence of machine learning, advanced simulation and quantum technologies.  

Reflecting on the similarities between the rise of GPU computing and today’s quantum computing landscape, Mark noted that transformative technologies often take time to mature before delivering widespread impact. 

"We lived through GPUs going from interesting, to novel, to useful, to the dominant paradigm for scientific computing. I may not be the only one who thinks this way, but I suspect quantum computing will follow a similar path as it comes online." 

The event concluded with networking drinks and refreshments, giving attendees the opportunity to connect with fellow members of Sydney's vibrant quantum ecosystem and continue conversations around innovation, collaboration and the future of technology-enabled discovery. 

The Quantum Innovators Network is SQA’s event series connecting students, researchers, founders, industry professionals and investors to explore emerging opportunities across quantum and adjacent deep-technology sectors.