Insilico Medicine Caps 2025 with Record HKD 2.277 Billion Hong Kong IPO

Insilico Medicine listed on the Hong Kong Stock Exchange (HKEX) on December 30, 2025, under stock code 03696.HK, raising HKD 2.277 billion (USD 293 million), marking the largest biotech IPO in Hong Kong for 2025.1 2 3 4

Shares opened at HKD 35, a 45.53% premium over the issue price of HKD 24.05, with heavy oversubscription:
Hong Kong public offering 1,427 times and international placement 26 times.1 2

First AI-driven biopharmaceutical company to list under HKEX Main Board's Rule 8.05, backed by cornerstone investors including Eli Lilly and Tencent.1 3

Proceeds allocation:
48% to clinical-stage pipeline, 20% to early-stage discovery, 15% to AI models, 12% to automated labs, 5% to working capital.3

Company leverages Pharma.AI platform with over 30 programs in fibrosis, oncology, immunology, and more; 10 with IND clearance, 7 in clinical development.3

Sources:

1. https://global.pharmcube.com/news/detail/61e775bf57a04902b72a146202ccef9e?type=dailyNews

2. https://www.prnewswire.com/ae/news-releases/qiming-venture-partners-insilico-medicine-successfully-lists-on-hong-kong-stock-exchange-302650996.html

3. https://insilico.com/news/p010170up1-insilico-medicine-lists-on-hong-kong-sto

4. https://pharmaphorum.com/news/insilico-ends-2025-293m-hong-kong-ipo

Sources:

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