Capital injection: China backs AI drug makers in self-reliance drive
Beijing pours millions into AI biotech, aiming to beat the West at its own game.
Deep Dive
Chinese AI drug developer METiS has advanced its AI-designed neurological treatment, MTS-004, through Phase III clinical trials—a national first. The company just raised 400 million yuan ($55M) in a Series D round led by state-backed funds, adding to over $150M raised in 2022. METiS plans to seek regulatory approval in China this year and is considering a $200M Hong Kong IPO, highlighting Beijing's strategic push for technological self-reliance in biotech.
Why It Matters
This marks a major milestone in the global AI biotech race, with China rapidly advancing state-backed competitors.