On December 30, Insilico Medicine, a clinical-stage biotechnology company powered by generative artificial intelligence, successfully listed on the Main Board of the Hong Kong Stock Exchange (Stock Code: 3696.HK). The offering raised HK$2.277 billion, making it the largest biotech IPO in Hong Kong in 2025 and the first AI-driven biotech company to list under Listing Rule 8.05.
The milestone reflects growing capital-market confidence in AI-enabled drug discovery and highlights the accelerating convergence of artificial intelligence and biomedical innovation worldwide.
Advancing Drug Discovery Through Generative AI
Founded in 2014, Insilico Medicine has been at the forefront of integrating generative AI with life-science research. By coupling its AI drug-discovery platforms with automated laboratory systems, the company has significantly shortened early R&D timelines. Between 2021 and 2024, more than 20 internal programs reached preclinical candidate status within 12-18 months, with each program requiring only 60 – 200 synthesized and tested molecules – substantially fewer than traditional discovery approaches, which typically take over four years.
Today, Insilico Medicine’s pipeline includes more than 30 programs, 21 preclinical candidates, and 10 assets in clinical development, demonstrating the practical and scalable impact of its AI platform across drug discovery and early development.
The Power of AI + CRO: Building a More Efficient R&D Model
As AI continues to reshape pharmaceutical R&D, the integration of AI platforms with CROs is emerging as a powerful new development model. Since 2021, Medicilon has collaborated with Insilico Medicine to help translate AI-designed molecules, such as ISM3412, into IND-ready programs through integrated, high-quality preclinical services.
This collaboration has validated the feasibility of the AI + CRO model, demonstrating how AI-driven design combined with execution-focused development capabilities can accelerate decision-making, improve efficiency, and support faster progression toward the clinic.
Leadership Perspectives
Alex Zhavoronkov, Founder, CEO, and Chief Business Officer of Insilico Medicine, commented:
“This oversubscribed IPO reflects strong market recognition of our AI platform and pipeline. Over recent years, we have demonstrated how AI can improve efficiency, reduce costs, and enhance success rates across preclinical and early clinical development – from target discovery to candidate advancement. Looking ahead, we will continue investing in our AI platform and pipeline, accelerating globally differentiated programs and working toward more accessible and affordable innovative therapies for patients worldwide.”
Feng Ren, Co-CEO and Chief Scientific Officer of Insilico Medicine, added:
“Our proprietary AI platform has enabled the discovery of first-in-class and best-in-class targets and molecules across multiple disease areas. Beyond efficiency gains, AI expands the boundaries of original innovation. With support from the capital markets, we will further advance our platform, strengthen our pipeline strategy, and collaborate globally to translate innovation into meaningful clinical outcomes.”
Jinna Cai, Chief Business Officer of Medicilon, offered her congratulations:
“Watching Insilico’s journey has strengthened our conviction that intelligent, AI-enabled drug discovery-powered by the AI + CRO model-is the future of medicine, and Medicilon is proud to support this transformation by leveraging its integrated preclinical R&D capabilities to help bring innovative therapies to patients more efficiently worldwide.”
