Recent breakthroughs by deep neural networks (DNNs) in natural language processing (NLP) and computer vision have been driven by a scale-up of models and data rather than the discovery of novel computing paradigms. Here, we investigate if scale can have a similar impact for models designed to aid small molecule drug discovery. We address this question through a large-scale and systematic analysis of how DNN size, data diet, and learning routines interact to impact accuracy on our Phenotypic Chemistry Arena (Pheno-CA) benchmark — a diverse set of drug development tasks posed on image-based high content screening data. Surprisingly, we find that DNNs explicitly supervised to solve tasks in the Pheno-CA do not continuously improve as their data and model size is scaled-up. To address this issue, we introduce a novel precursor task, the Inverse Biological Process (IBP), which is designed to resemble the causal objective functions that have proven successful for NLP. We indeed find that DNNs first trained with IBP then probed for performance on the Pheno-CA significantly outperform task-supervised DNNs. More importantly, the performance of these IBP-trained DNNs monotonically improves with data and model scale. Our findings reveal that the DNN ingredients needed to accurately solve small molecule drug development tasks are already in our hands, and project how much more experimental data is needed to achieve any desired level of improvement.