Anew Labs, an AI-driven pharmaceutical company spun off from ByteDance, secured $290 million in angel round funding just three months after its establishment, with an initial valuation of RMB 10 billion, backed by a strong lineup of investors. Unlike the cross-border models of internet giants like Baidu and Tencent, which empower drug R&D through AI technologies, Anew Labs not only develops AI models but also actively advances its in-house drug pipelines. Currently, it has four preclinical pipelines, with its core pipeline being the world's first full-spectrum oral small-molecule inhibitor targeting both IL-17A and IL-17F. Leveraging ByteDance's advantages in computing power, talent, and capital, Anew Labs also faces numerous challenges: significant differences between the internet and pharmaceutical industries in business logic, R&D pace, and reward mechanisms require the company to establish an R&D system tailored to the life sciences sector, address the talent gap in senior biomedical professionals, promote efficient collaboration between algorithm and pharmaceutical experts, and translate technological strengths into actual drug R&D capabilities. Currently, AI-driven pharmaceuticals are at a turning point in development. The digital accumulation in the life sciences field, along with recognition from the scientific community and regulatory bodies, continues to fuel optimism among various stakeholders, including internet industry practitioners, about the long-term value of this sector.