TechByteDance spin-off Anew Labs raises US$290m as AI drug developers see funding boom

Anew Labs, a Shanghai-based AI drug discovery company formerly part of ByteDance, has raised US$290 million at a valuation of US$1.5 billion, according to an informed source. The deal comes amid a fresh fundraising surge among Chinese AI drug developers as investors back domestic challengers to Anthropic and Isomorphic Labs.

Anew LabsByteDanceAI drug discoveryfundraising

SSouth China Morning Post★★☆☆☆2026-09-18 03:00Original