by Mia Castagnone for South China Morning Post

• While Insilico has not announced an IPO timetable or amount, sources say the Hong Kong Science and Technology Park-based firm hopes to raise US$200 million
• The company had previously planned to raise some US$300 million, Bloomberg reported in November 2021

“Hong Kong-based biotech company Insilico Medicine has set its sights on an initial public offering in the city, shelving its earlier New York fundraising plan, as the start-up seeks capital to finance clinical trials of drugs discovered and designed by artificial intelligence.

While details such as the IPO timetable or the amount have not been disclosed, the company in an exchange filing on Tuesday named Morgan Stanley, China International Capital Corporation and BNP Paribas Securities Asia as its overall coordinators.

The IPO hopes to raise US$200 million, according to sources familiar with the matter. The company had previously filed confidentially for an IPO in the US that was expected to raise some US$300 million, Bloomberg reported in November 2021. The plans, however, did not materialise…”

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