New startup: Baidu probably in talks: Billions for the establishment of a new biotech group | message
Two insiders report on talks with investors
The aim should be to found a biotech company
The connection between Baidu and startup should lie in AI
Reuters news agency recently spoke to two Baidu insiders. These apparently reported that search engine giant Baidu.com Inc. is in talks with investors. As part of this, two billion US dollars are to be raised in order to set up a biotech startup.
Baidu is looking for a new biotech startup
As a person familiar with the matter reported, Baidu wanted to participate in the establishment of a biotech company. However, the startup will not function as a subsidiary of the Chinese group, but will be an independent company. Baidu will probably not be the dominant investor. The talks should be at the very beginning, it said. Baidu founder Robin Li is even said to be personally involved in the project.
Biotech trend attracts Baidu
The biotech industry has been gaining popularity for some time, and numerous companies have increasingly attracted the attention of investors – including BioNTech and Curevac. This is thanks in part to the corona pandemic, in which stocks from the technology and health sectors benefited. Baidu, like other companies that are already pursuing identical ambitions, wants to get a piece of the cake.
Baidu presented its ribonucleic acid (RNA) prediction algorithm LinearFold at the beginning of the year. The product is intended to increase the rate of prediction of RNA alteration structures in a virus. This is essential for understanding a virus, and it is also of great importance for the development of vaccines.
The startup, which is currently being planned, will specialize in the discovery and development of drugs. The early diagnosis of tumors should be another mainstay. Baidu’s artificial intelligence is supposed to help with biological innovations through its ability to carry out complex calculations.
Finanzen.net editorial team
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