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AIQuiet 10d · day 12

ByteDance spinoff Anew Labs raises $290M for AI drug discovery at $1.5B valuation

Shanghai-based Anew Labs, separated from ByteDance, secured funding from HSG, IDG Capital and others.

newest coverage 9d agosummary written 11d ago6 pieces NewswiresMastodonGoogle News

What to know

  • ByteDance has spun off Anew Labs into an independent company focused on AI-driven pharmaceutical drug discovery.
  • The funding round valued Anew Labs at $1.5 billion, with HSG and IDG Capital among the lead investors.
  • The $290 million raise signals investor confidence in AI applications for accelerating drug development.

Anew Labs ByteDance spinoff, AI drug discovery startupByteDance Parent companyHSG Lead investorIDG Capital Co-investor

How it unfolded 1 development · click the chart to see its coverage articlesposts

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Sep 17Sep 18Sep 19Sep 20Sep 21Sep 22Sep 23Sep 24Sep 25yesterdaynow · 10:22 PM ET
  1. 1

    Anew Labs completes $290M fundraising round

    Shanghai-based Anew Labs, a ByteDance spinoff focused on AI-powered drug discovery, raised $290 million from investors including HSG and IDG Capital at a $1.5 billion valuation.

    “Sources: Shanghai-based Anew Labs, a ByteDance spinoff using AI for drug discovery, raised $290M from HSG, IDG Capital, and others at a $1.5B valuation…”
    — Reuters · source

    1. 3 outlets first by WOWTALE, 11d ago · also Reuters, SCMP · read ↗