16 Sep 2026 | 3 Mins Read
ByteDance's AI drug unit secures $290M funding, valued at $1.5 billion
Flipitmoney
ByteDance’s AI drugmaking unit, Anew Labs, has raised $290 million in its first external fundraising, reaching a $1.5 billion valuation. The round was led by HSG, IDG Capital, and Hillhouse Investment, with other notable investors participating. ByteDance, after spinning off Anew Labs, retains a 56% stake in the company.