(Bloomberg) -- Artificial intelligence-driven drug firm METiS Pharmaceuticals is considering an initial public offering in Hong Kong to raise as much as $200 million, according to people familiar with the matter.

Most Read from Bloomberg

A New Central Park Amenity, Tailored to Its East Harlem Neighbors As Trump Reshapes Housing Policy, Renters Face Rollback of Rights Is Trump’s Plan to Reopen the Notorious Alcatraz Prison Realistic? What’s Behind the Rise in Serious Injuries on New York City’s Streets? NYC Warns of 17% Drop in Foreign Tourists Due to Trump Policies

The drug delivery and discovery company is working with advisers to arrange an IPO, potentially before the end of this year, the people said, asking not to be identified because the discussions aren’t public.

Deliberations are ongoing and details such as size and timing may change, the people said.

METiS didn’t respond to requests for comment.

Based in Hangzhou, METiS has raised about $300 million in funding rounds since it was established in 2020, including $100 million in June. CICC Capital led that Series C financing, which also included China Taiping Insurance Holdings Co. Other backers of METiS include HongShan, formerly Sequoia China.

METiS also has offices in Beijing, Shanghai and Cambridge, Massachusetts.

Most Read from Bloomberg Businessweek

US Border Towns Are Being Ravaged by Canada’s Furious Boycott How the Lizard King Built a Reptile Empire Selling $50,000 Geckos Maybe AI Slop Is Killing the Internet, After All With the New York Liberty, Clara Wu Tsai Aims for the First $1 Billion Women’s Sports Franchise Pre-Tariff Car Buying Frenzy Leaves Americans With a Big Debt Problem

©2025 Bloomberg L.P.

View Comments