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ByteDance Spin-Off Anew Labs Raises US$290m as AI Drug Developers Enjoy Fundraising Boom

Summary by BizToc
China is seeing a fresh fundraising boom for AI drug developers, with start-ups including a ByteDance spin-off raising hundreds of millions of dollars this week as investors rush to back domestic challengers to Anthropic and Isomorphic Labs. Anew Labs, a Shanghai-based AI drug discovery firm that…

2 Articles

South China Morning PostSouth China Morning Post
Center

ByteDance spin-off Anew Labs raises US$290m amid AI drug design fundraising boom

As AI’s role in drug design advances rapidly, Chinese start-ups are ramping up fundraising efforts.

·Hong Kong, Hong Kong
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BizTocBizToc

ByteDance spin-off Anew Labs raises US$290m as AI drug developers enjoy fundraising boom

China is seeing a fresh fundraising boom for AI drug developers, with start-ups including a ByteDance spin-off raising hundreds of millions of dollars this week as investors rush to back domestic challengers to Anthropic and Isomorphic Labs. Anew Labs, a Shanghai-based AI drug discovery firm that…

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South China Morning Post broke the news in Hong Kong, Hong Kong on Friday, September 18, 2026.
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