ByteDance's AI drug spin-off Anew Labs closes $290M round

WOWTALE↗ and pharmaphorum report that ByteDance's AI drug discovery unit has closed a $290 million external funding round after spinning off as an independent company called Anew Labs. The round values Anew Labs at $1.5 billion, with ByteDance retaining a 56% stake. The financing was led by HSG, IDG Capital, and Hillhouse Investment, with 5Y Capital also participating.

WOWTALE: “ByteDance's AI Drug Spin-Off Anew Labs Closes $290M Round, Sources Say”+2 more →

Reporting · 3 outlets

ByteDance's AI drug spin-off Anew Labs closes $290M round

• WOWTALEByteDance's AI Drug Spin-Off Anew Labs Closes $290M Round, Sources Say↗
• pharmaphorumTikTok parent ByteDance raises cash for drug AI spinout Anew↗

Also named · 1

• Reuters

First seen here

16 Sep 2026 07:02 UTC

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