AI Life Science Firm Metis TechBio Set for HK Debut After IPO

Metis TechBio Co, a biotechnology company using artificial intelligence to deliver and formulate drugs, is set to begin trading in Hong Kong after raising HK$2.1 billion ($270 million) in an initial public offering.

The company sold shares at $HK10.50 apiece, part of a wave of deals in an industry that’s attracting increasing investor enthusiasm. Shares of AI drug discovery startup Insilico Medicine Cayman TopCo have surged 167% since their debut in late December, while other companies in the deal pipeline include Earendil Labs, which is mulling a listing to raise as much as $500 million.