ByteDance reportedly completes $369 million fundraising for AI drug spinoff
The Straits Times reports that Anew Labs reached a US$1.5 billion valuation, with the funding aimed at AI-driven drug discovery and development.
TLDR
ByteDance completed a $369 million fundraising for its AI drug unit Anew Labs after its spin-off, The Straits Times reports, citing sources. The outlet says the raise values Anew Labs at US$1.5 billion and is intended to advance AI-driven drug discovery and development.
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