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Chinese technology company Baidu plans to raise 2 billion for a biotech start-up that will help develop and diagnose drugs using AI.
Baidu came up with the idea earlier this year and is currently in talks with investors.
An unnamed source told Reuters the start-up would use Baidu's AI technology to find and develop drugs, as well as diagnose early-stage cancer.
Sources said that Baidu founder and chairman robin li is directly involved in the start-up.
The technology company released a tool earlier this year that analyzed the structural data of a virus in just 28 seconds, helping to understand the virus and create a vaccine against COVID-19.
Baidu's plan for such a start-up comes at a time when governments around the world are investing in their healthcare systems and coronavirus vaccines.
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