The JUMP-CP consortium (Joint Undertaking for Morphological Profiling-Cell Painting) has committed to create a public Cell Painting dataset of over 140,000 genetic and chemical perturbations and establish experimental and computational best practices for image-based profiling. We believe this unprecedented public resource will catalyze drug discovery by enabling the prediction of compounds’ mode of action and toxicity, characterizing disease phenotypes, uncovering new biology, and more. During its first year, the consortium conducted pilot experiments which set down experimental guidelines and explored various computational approaches for profile generation and downstream applications. In this talk, we will present the latest results, discussing the applicability of Cell Painting to link genetic and chemical perturbations among other findings.