{
  "id": 8156838,
  "title": "ByteDance spin-off Anew Labs raises US$290m as AI drug developers enjoy fundraising boom",
  "url": "https://urgent.news/2026/09/18/bytedance-spin-off-anew-labs-raises-us-290m-as-ai-drug-developers",
  "topic": "ai",
  "section": "AI",
  "published": "2026-09-18T03:00:08.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/china-business/article/3367926/bytedance-spin-anew-labs-raises-us290m-ai-drug-developers-enjoy-fundraising-boom"
  },
  "original_language": "en",
  "account": "ByteDance spin-off Anew Labs has raised US$290 million in a US$1.5 billion valuation, positioning itself as a formidable rival to AI drug developers Anthropic and Isomorphic Labs. Anew Labs, previously part of ByteDance, offers a suite of AI models aimed at predicting and designing biomolecular structures. Key models include AnewFold and Protenix, an open-source replication of Google DeepMind's AlphaFold 3. The company currently has four drugs in development, including an oral small-molecule drug for immunological diseases. Anew Labs launched its AnewDDE agentic platform to streamline fragmented AI workflows in drug discovery. The surge in AI drug development funding is evident, with Danish pharma giant Novo announcing a partnership with Anthropic to accelerate new medicine creation using Anthropic's models. Chinese firms like Nutshell Therapeutics and AIPher have also successfully raised funds to advance their AI-driven drug development initiatives.",
  "summary": "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 was formerly a unit of Chinese tech giant ByteDance, has raised US$290 million at a valuation of…",
  "key_points": [
    "Anew Labs raises US$290 million in US$1.5 billion valuation",
    "AnewFold and Protenix are key AI models for biomolecular prediction",
    "Four drugs in development, including immunological disease treatment"
  ],
  "editors_take": "The fundraising success of Anew Labs and others like it signals a surge in investment in AI drug development, positioning companies like Anew Labs to rival established players in the field.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "South China Morning Post",
        "title": "ByteDance spin-off Anew Labs raises US$290m as AI drug developers enjoy fundraising boom",
        "url": "https://urgent.news/2026/09/18/bytedance-spin-off-anew-labs-raises-us-290m-as-ai-drug-developers-8157440",
        "published": "2026-09-18T03:00:08.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}