Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Tencent Reportedly Negotiating Risk-Mitigation Measures to Retain U.S. Gaming Investments
Foxconn to Set Up Chipmaking Joint Venture with Yageo
Excluding Chinese Vendors from Indian 5G Trials Will Hold Back Development, Diplomat Says
Alibaba-Backed MYBank Eyes Deeper Penetration Into Under-Banked Rural China
Vivo and Oppo Claim Top Two Spots in China Smartphone Market as Huawei Falls
U.S. Urges TSMC to Prioritize Supplies to American Carmakers Grappling with Global Chip Shortage
Indonesian Ride-Hailing Unicorn Gojek Aims to Go All Electric by 2030
Tencent-Backed Insurtech Firm Waterdrop Aims to Raise up to $360 Million in U.S. IPO
Which Money-Losing Electric-Car Makers Have Tied Up With Huawei?
Video Platform Bilibili to Buy Stake in Mobile-Game Maker CMGE to Boost Content
Baidu to Roll Out Driverless Robotaxis in Beijing in May
Tesla Challenger Nio Shrinks Losses as Sales Surge
Trending in China: A Beijing Bureaucrat Worked as Delivery Driver for a Day and Earned Just $6
Fjord Focus: Why Are Chinese Electric-Car Makers Flocking to Norway?
Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business
Xiaomi Extends Reign as India’s Smartphone King Despite Slipping Market Share
Self-Driving Truck Startup Plus to Develop Natural Gas-Powered Vehicle With U.S. Engine-Maker
China’s Origin Space Launches Prototype to See How Well It Cleans Up Space Junk
Trending in China: Is Bubble Tea for Tesla Really Such a Bad PR Effort?
TikTok to Set Up European Transparency Center to Ease Data Security Concerns
Medtech Startup StoneWise Raises $100 Million to Promote Use of AI in Drug Development

Ding Yi / Apr 13, 2021 07:04 PM / Business & Tech

StoneWise, a Chinese medtech startup which uses artificial intelligence (AI) technology to develop medicines, has completed its series B and series B+ funding rounds raising $100 million combined. The funding rounds come as the Covid-19 pandemic serves to highlight the role of AI and other cutting-edge technologies in diagnosing and treating diseases.

The series B round was led by Legend Capital, while the series B+ round was co-led by Greater Bay Area Homeland Development Fund and Lightspeed China. Other investors that joined the two rounds include Eastern Bell Capital, GL Ventures and Long Hill Capital, StoneWise said in a WeChat post on Monday.

Beijing-based StoneWise said it will use the proceeds from the two rounds to bankroll its global talent recruitment and widen the use of its AI technology in drug development.

Founded in 2018, StoneWise provides small molecule drug researchers with a smart drug development platform which is powered by technologies including AI algorithms, computational chemistry, pharmaceutical chemistry and computational biology, and enables the medicine development process to be more time-efficient and cost-effective, according to its website.

Contact reporter Ding Yi (yiding@caixin.com)

Related: China’s Covid Vaccine Drive Derails Routine Inoculations, Experts Say

 


Share this article
Open WeChat and scan the QR code