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Anew Labs, a ByteDance spin-off, raises US$290 million to enhance AI drug discovery capabilities.

Sep 18, 2026•about 3 hours ago

Contract Type

partnership

BiotechnologyArtificial IntelligenceTherapeuticsMachine Learning

Description

Anew Labs has successfully raised US$290 million this week, as part of a fundraising boom for AI drug developers in China. The start-up has reached a valuation of US$1.5 billion, attracting significant investment from several major venture capital firms.

Company Information

Company

Anew Labs

About

Anew Labs is an AI-assisted drug-discovery company that spun out of ByteDance's AI-for-Science team in June 2026. The company develops computational tools including AnewFold for protein-structure prediction, AnewDesign for antibody design, and AnewMind, an LLM reasoning assistant for drug discovery. Its lead program focuses on orally bioavailable pan-IL-17 small-molecule inhibitors currently in lead optimization, with additional programs targeting IL-4 receptor and two undisclosed targets.

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