Chinese search giant Baidu is in discussions with investors to raise up to $2 billion over three years for a new biotech company, a person close to the matter told CNBC.The biotech company will try to use artificial intelligence and computing to develop drugs and and make early-stage diagnoses of diseases such as cancer, the person said.
The company would be a standalone entity rather than a subsidiary of Baidu, said a person close to the matter. The individual was not authorized to speak publicly about the project. A number of investors are interested in joining the funding, the person said, adding that they could not disclose more details as talks are still in the early stage.The biotech company would focus on using artificial intelligence and computing to create new drugs and and make early-stage diagnoses of diseases such as cancer, the person said.
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莆田生物（科技）
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