Insilico Medicine Cayman TopCo (Ticker: 3696 HK) is a Hong Kong-based biotechnology company specializing in artificial intelligence-driven drug discovery. The company utilizes its proprietary generative AI platform, Pharma.AI, to accelerate the development of pharmaceuticals, reportedly generating over 20 clinical or IND-enabling assets to date. Insilico Medicine plans to list on the Hong Kong Stock Exchange on December 30, 2025, planning to offer approximately 94.69 million shares at HKD 24.05 per share.

Through this offering, the company is raising HKD 2.28 billion (approximately USD 293 million). At this listing price, the company reportedly commands a market capitalization of approximately USD 1.72 billion. According to filings, Insilico Medicine plans to use the IPO proceeds primarily (83%) for research and development and expanding product capacity, with the remainder allocated to brand promotion, business development, and general working capital. The offering is sponsored by CICC, Morgan Stanley, and GF Capital, with BNP Paribas and BOCI Asia serving as joint underwriters.