ByteDance AI Drug Discovery Spinoff Anew Labs Closes $290M Debut Round: $1.5B Valuation, AnewFold Protein Prediction Leads, China AI Pharma Track Ignites Capital Frenzy
ByteDance's AI drug discovery unit Anew Labs closed its debut $290M external funding round on September 16, 2026, at a $1.5B valuation with ByteDance retaining 56% control. The company owns four core technologies: AnewFold, AnewSampling, AnewDesign, and AnewMind, led by HSG, IDG Capital, and Hillhouse.