Anew Labs completed its first external financing round on September 16, 2026, raising $290 million after spinning out of ByteDance. The round values the AI drug-discovery company at approximately $1.5 billion post-money, while ByteDance retains about 56% ownership. Investors include HSG, IDG Capital, Hillhouse Investment, 5Y Capital, Gaorong Ventures, Primavera Venture Partners, Boyu Capital, SBP Group, and the Shanghai Future Industries Fund. The financing demonstrates outside capital participation while ByteDance maintains its controlling stake in the company.
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.
Don't miss Anew Labs's next move
Get an email the moment Anew Labs raises, hires an exec, or expands, usually minutes after it happens.
