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2 clusters · 7 sources · 3 days · First seen · Last updated

Anew Labs AI drug discovery financing

Overview

Anew Labs, a Shanghai-based artificial intelligence drug discovery unit recently spun off from ByteDance, has completed a $290 million fundraising round. The financing, which included participation from HSG, IDG Capital, Hillhouse Investment, and the state-backed Shanghai Future Industries Fund, brings the company’s valuation to approximately $1.5 billion.

ByteDance maintains a 56% controlling stake in the new entity. Anew Labs operates in Shanghai, San Jose, and Singapore, focusing on integrating AI capabilities such as molecular modeling and structural prediction into drug development pipelines for candidates including IL-17 and IL-4R.

Entities

IDG Capital · ByteDance · Anew Labs · HSG · Zhipu AI

Timeline

  1. 5 days ago

    [TECHNOLOGY] 2 sources
    ByteDance spin-off Anew Labs raises $290M as Zhipu AI secures $5B

    ByteDance's spun-off AI drug discovery unit, Anew Labs, raised $290 million at a $1.5 billion valuation, while Zhipu AI secured $5 billion to advance its large language model R&D and infrastructure.

  2. 7 days ago

    [BUSINESS] 6 sources
    Anew Labs raises $290 million for AI drug discovery following ByteDance spin-off

    Anew Labs, a ByteDance spin-off, raised $290 million at a $1.5 billion valuation to advance AI-driven drug discovery amid a surge in Chinese biotech stocks.

Sources

cryptobriefing.com · drweb.de · influencermagazine.uk · leiphone.com · nemosnewsnetwork.com · tekedia.com · tmtpost.com