ByteDance Spins Off Its AI Drug Development Business for Independent Financing, Integrates Team and Remains Controlled by ByteDance
ByteDance's AI drug discovery business unit has initiated a spin-off and independent fundraising. ByteDance will retain a controlling stake post-completion, with core team, algorithms, tech platform, and pipeline assets transferred to a new company led by the original team. The independent unit will continue to receive computing support from Volcano Engine. Established in 2021 under Liu Kai, the team of ~50 focuses on AI4S.....