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ByteDance completes $290 million fundraising for AI drug unit after its spin-off, sources say

Bytedance logo is seen in this illustration taken February 8, 2025. REUTERS/Dado Ruvic/Illustration//File Photo Purchase Licensing Rights, opens new tabCompaniesHONG KONG, Sept 16 (Reuters) - Chinese social media and internet company ByteDance has completed a $290 million ​fundraising for its AI drugmaking unit after ‌spinning it off from the group, two people with knowledge of the matter said on Wednesday.Shanghai-headquartered Anew Labs, ​which uses AI for drug discovery, has ​achieved a valua...

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