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

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.

• Raised $290M at a $1.5B valuation
• Investors include HSG, IDG Capital, and others
• Anew Labs is a ByteDance spinoff based in Shanghai
• Company uses AI for drug discovery