by Zinnia Lee for Forbes

“Insilico Medicine, a Hong Kong and New York-based company that uses AI for drug discovery, has filed for an initial public offering in the Asian financial hub that’s slowly recovering from a drought of major listings.

Insilico Medicine did not disclose details of its IPO in its filing to the Hong Kong stock exchange on Tuesday, although a report by local newspaper South China Morning Post said it’s planning to raise $200 million, citing unnamed sources. The company had previously filed confidentially for a U.S. IPO to raise around $300 million, Bloomberg News reported in November 2021. Insilico Medicine didn’t immediately respond to a comment request.

The biotech company was valued at approximately $895 million after raising $95 million last July from the likes of leading Chinese healthcare-focused firm Qiming Venture Partners and Singapore-based billionaire Eduardo Saverin’s B Capital…”

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