Sources: Shanghai-based Anew Labs, a ByteDance spinoff using AI for drug discovery, raised $290M from HSG, IDG Capital, and others at a $1.5B valuation (Kane Wu/Reuters)

Kane Wu / Reuters: Sources: Shanghai-based Anew Labs, a ByteDance spinoff using AI for drug discovery, raised $290M from HSG, IDG Capital, and others at a $1.5B valuation — Chinese social media and internet company ByteDance has completed a $290 million fundraising for its AI drugmaking unit after spinning …