BRIEF: InSilico gets CSRC nod for Hong Kong IPO

AI drug discovery platform InSilico Medicine Cayman TopCo has been approved by China’s securities watchdog for a Hong Kong IPO, clearing a key hurdle in its stalled listing. According to information published Tuesday on the website of the China Securities Regulatory Commission (CSRC), the company plans to offer up to 108 million shares in the listing.

Insilico made three previous attempts to list in Hong Kong in June 2023, March 2024 and May 2025, all of which lapsed without an IPO. The company refiled again last month. It swung to a net loss of $19.2 million in the first half of this year from a profit of $8.03 million a year earlier, while its revenue slumped 54% to $27.46 million, according to the latest filing.

The company applies AI and big-data technologies to accelerate drug discovery and development. Its business spans internal pipeline development, drug discovery services and software solutions. Its proprietary generative AI platform, Pharma.AI, has generated more than 20 assets at the clinical or investigational new drug (IND) stage, with 10 projects approved for clinical trials and three licensing deals completed, collectively valued at more than $2 billion.

The platform has also expanded into adjacent fields, including advanced materials, agriculture, nutrition and veterinary medicine.

By Lee Shih Ta

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