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 (Kane Wu/Reuters)
Anew Labs’ new round values the ByteDance spinoff at $1.5 billion.
The Shanghai-based company uses AI in drug discovery, according to the note. Reuters reported that it raised $290 million from investors including HSG and IDG Capital. The funding underscores the scale investors are assigning to the ByteDance offshoot, but the note does not give further terms. Techmeme's note
The Shanghai-based company uses AI in drug discovery, according to the note. Reuters reported that it raised $290 million from investors including HSG and IDG Capital. The funding underscores the scale investors are assigning to the ByteDance offshoot, but the note does not give further terms. Techmeme's note
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