AI-Powered Drug Delivery Pioneer GenEdit Sciences Launches as World’s First AI Drug Delivery Firm on HKEX with 175% Surge on Debut

On May 13, 2026, METiS TechBio (7666.HK) officially listed on the Main Board of the Hong Kong Stock Exchange, becoming the world's first AI drug delivery stock and the first AI large-molecule biopharmaceutical stock in Hong Kong. Thus far, this AI nanodelivery pioneer company, hailed as the "SpaceX of the pharmaceutical industry," has completed the entire process from establishment to IPO in just six years, making it the unicorn company with the shortest time to achieve the IPO milestone in China’s AI pharmaceuticals industry. METiS TechBio priced its IPO at HK$10.50 per share, offering approximately 201 million H shares globally, raising over HK$2.1 billion, setting a record for the largest healthcare IPO fundraising in Hong Kong in 2026 to date.

METiS TechBio's public offering stage garnered an astonishing 6,910.96 times oversubscription, locking in over 730 billion Hong Kong dollars in subscription funds, setting a new record for the largest public offering subscription amount in Hong Kong's healthcare IPOs since 2026. In terms of international placement, it received orders from more than 280 institutional investors, achieving an oversubscription of 82 times the allocatable quota, also setting a new record for the highest international placement subscription multiple in healthcare IPOs this year. The company’s IPO featured a top-tier lineup with 18 leading institutions committing to subscribe for 148 million US dollars, refreshing the record for cornerstone subscriptions in Hong Kong's AI pharmaceutical IPOs, and receiving comprehensive support from "international asset management + specialized medical funds + AI technology funds + national-level funds + Chinese public equity funds."

On the first day of listing and trading today, METiS TechBio's stock price performed exceptionally well. The company priced its shares at HK$10.5 each, opening at HK$28.96 in the morning session, representing a staggering increase of 175.81%, with the turnover quickly surpassing HK$1.335 billion. Calculating with 500 shares per lot, excluding handling fees, investors' paper profit per lot reached as high as HK$9,090, continuing the heat from the grey market trading—closing at a 180% increase on the previous trading day’s grey market, at HK$29.4, earning HK$9,450 per lot. METiS TechBio's technological leadership, clarity of business model, and national strategic-level technology positioning have become the core drivers igniting confidence in the capital markets.

Looking back at METiS TechBio's path to going public, from officially submitting its listing application to the Hong Kong Stock Exchange on March 26, 2026, to swiftly passing the hearing on April 19, completing a highly successful subscription from May 5 to 8, and finally successfully listing on May 13, the entire process took only one and a half months. Built upon its core NanoForge technology platform, METiS TechBio, with its "rocket + satellite" new-generation in vivo immunotherapy paradigm, has showcased to the world how AI-driven nanodelivery technology is reshaping the future landscape of biopharmaceuticals, ushering in a new era of AI-empowered drug delivery.

(From left): Li Jin, Independent Non-Executive Director of METiS TechBio; Shao Wenqian, Capital Markets Director of METiS TechBio; Wang Wenshou, Executive Director and COO of METiS TechBio; Lai Caida, Chairman and CEO of METiS TechBio; Chen Hongmin, Executive Director and Chief R&D Officer of METiS TechBio; Fu Chong, CFO of METiS TechBio; Peter Edward Lobie, Independent Non-Executive Director of METiS TechBio; Lin Yizhong, Independent Non-Executive Director of METiS TechBio.

The official listing journey of METiS TechBio commenced on March 26, 2026. On this day, the company uploaded the initial version of its prospectus to the Hong Kong Stock Exchange's official website, formally initiating its application for an H-share listing. Jefferies Financial Group, Deutsche Securities Asia, and CITIC Securities (Hong Kong) acted as joint sponsors, with the three investment banks providing collective support. As a specialized technology company applying for listing under Chapter 18C of the Hong Kong Stock Exchange Listing Rules, Metis TechBio Co., Ltd. has consistently recorded net losses since its inception. Nevertheless, the innovation and commercial potential of its AI nanodelivery platform have garnered significant recognition from regulators and the market alike.

The hearing stage is the most crucial part of the entire IPO process, and it is also the point at which the Listing Committee comprehensively reviews the company's business model, financial status, compliance, and other aspects. On the evening of April 19, 2026, METiS TechBio officially passed the listing hearing of the Hong Kong Stock Exchange, disclosing the PHIP version of the prospectus, marking that it is only one step away from being listed. The smooth passage of the hearing sent a core signal to the market: the company’s AI-driven nanomaterials innovation business model, the development progress of its core technology platform, differentiated pipeline layout, and commercialization strategy have all passed the prudent evaluation of the Hong Kong Stock Exchange.

After passing the hearing, METiS TechBio has been actively preparing for its initial public offering (IPO). From May 5 to May 8, 2026, the company officially launched the global offering of its H shares, with a total of approximately 201 million H shares planned for issuance. Of these, around 5% are allocated for the Hong Kong public offering, while approximately 95% are designated for international offerings, along with a 15% over-allotment option. At the same time, the company officially announced an impressive lineup of 18 cornerstone investors, led by BlackRock with a $50 million investment. Other major global asset management firms and ultra-long-term funds, including UBS AM Singapore, Mirae Asset of South Korea, and Orix of Japan, have collectively increased their stakes.

During the IPO period, the market response was extremely enthusiastic. On the first day of the IPO on May 6th, a margin subscription of HKD 35.3 billion was recorded, representing an oversubscription of 333 times; on the second day, the margin amount climbed to HKD 75.8 billion, with the oversubscription multiple surpassing 716 times; by the time the IPO officially closed on May 8th, a total margin subscription of over HKD 543.9 billion had been recorded. With a public offering amount of HKD 106 million, the oversubscription multiple reached a staggering 5,130 times. Ultimately, the public offering received an oversubscription of 6,910.96 times, setting a record for the highest subscription amount in a Hong Kong public offering for a healthcare IPO within the year. Meanwhile, the international placement also garnered orders from over 280 institutional investors, achieving an oversubscription of 82 times the allocatable amount, once again breaking the record for the highest oversubscription multiple in a Hong Kong healthcare IPO's international placement within the year.

At 9:00 a.m. on May 13, METiS TechBio's H shares, under the stock code "7666," officially began trading on the Main Board of the Hong Kong Stock Exchange. On its first day of trading, the stock opened at HK$28.68, representing a staggering 173.14% increase from the offering price of HK$10.5. The trading volume quickly surpassed HK$1.212 billion. Compared to the performance of other companies on their debut—Jingtai Holdings' 9.85% increase and Insilico Medicine's 24.66% increase—the remarkable 173% opening surge of METiS TechBio demonstrates strong capital market recognition for the AI nano-delivery technology sector. It also highlights the technical value embedded in the differentiated strategies of the "AI Pharma Three小龙 (young dragons)."

The fundamental reason why METiS TechBio has won such enthusiastic pursuit from the capital market lies in the deep support of its core competitiveness. The company's self-developed NanoForge, the world's first AI nanodelivery platform, integrates a self-generated lipid library of tens of millions, artificial intelligence foundational models, the METiS AI agent, quantum chemistry and molecular dynamics simulations, as well as an AI-driven high-throughput screening platform. This technological system enables METiS TechBio to be the first in the world to build a complete closed-loop for AI-driven nanodelivery. Compared with the traditional targeted drug delivery research and development cycle, NanoForge can compress the R&D time from several years to just 2 to 3 months.

The breakthrough significance of the NanoForge platform lies in its resolution of the "world-class challenge" of drug delivery, which has long stood between drug development and clinical application. In traditional new drug research and development, the discovery of an effective pharmacological molecule is merely the first step in a long journey; the complex physiological defense barriers in the human body act as multiple checkpoints, preventing most drugs from reaching the target site accurately and delivering therapeutic effects.

METiS TechBio, through its NanoForge platform, has developed three major technological solutions—AiTEM, AiLNP, and AiRNA—which are the first in the industry to achieve precise targeted delivery to eight key organs and tissues: the liver, lungs, heart, muscles, tumor tissues, immune system, central nervous system, and gastrointestinal tract. Dr. Lai Caida vividly likened this to "achieving precise navigation within the inner space of the 30 trillion cells in the human body"—which is precisely why the capital market has hailed it as the "SpaceX of the pharmaceutical industry."

Based on the robust technical capabilities of the NanoForge platform, METiS TechBio has established a clear and resilient "platform cooperation + product cooperation" dual-driven business model. On one hand, through platform partnerships, the company provides LNP optimization services and in vivo targeted delivery solutions to global pharmaceutical enterprises, with signed contracts for individual targets reaching up to $109 million. On the other hand, the company is actively advancing the research and clinical validation of its proprietary pipeline products. The pipeline covers areas such as oncology, immune system disorders, central nervous system diseases, and metabolic conditions, encompassing over 10 pipeline products. These include several candidates in the discovery phase, four preclinical candidates, three products in clinical stages, and one pre-NDA product.

"The 'Rocket + Satellite' product strategy is the core capability of METiS TechBio's differentiated innovative pipeline development. MTS-105, a highly anticipated asset in the pipeline, has the potential to become the world’s first in vivo mRNA-encoded TCE solid tumor therapy for the treatment of liver cancer and other advanced solid tumors with liver metastases, and has been granted Orphan Drug Designation by the U.S. FDA. MTS-004 is the first and only PBA (PseudoBulbar Affect) drug in China to have completed Phase III clinical trials, taking only 38 months from project initiation to the completion of Phase III trials. In 2025, METiS TechBio achieved revenue of 105 million yuan, representing year-over-year growth of over 7000%, primarily driven by upfront payments from product collaborations for MTS-004."

Currently, the global nanomedicine market has reached $222 billion in 2024 and is expected to reach $585.4 billion by 2035, with a compound annual growth rate of 9.2%. The animal health market reached $52.2 billion in 2024 and is projected to reach $131.5 billion by 2035. Against the backdrop of the continuous rise in AI-driven drug development, global pharmaceutical giants such as Eli Lilly and Merck have already made strategic moves, while Roche and NVIDIA are also increasing their investments in related areas.

METiS TechBio, along with XtalPi and Insilico Medicine, is domestically known as one of the "Three Little Dragons of AI Drug Discovery" in China. The three have formed clear technical differentiation — XtalPi focuses on "AI + robotic automation labs," Insilico Medicine specializes in generative AI-driven pipeline innovation, while METiS TechBio delves into the field of macromolecular drug delivery, which has the highest technical barriers. Based on the overwhelming interest in the IPO data and the strong performance of the stock on its first day of trading, the capital market has already validated the long-term value of METiS TechBio's business model, which centers on an "AI nanoparticle delivery core platform + differentiated pipeline," with real investments.

The key reason why METiS TechBio's IPO has garnered such high attention and enthusiasm in the market lies in the fact that its cornerstone investor team fully reflects the capital market’s recognition of the strategic value of AI nanodelivery technology. Eighteen top-tier institutions collectively subscribed for $148 million, setting a new record for AI pharmaceutical IPOs on the Hong Kong Stock Exchange. The lineup includes BlackRock, the world's largest asset manager, leading with $50 million, as well as global asset management giants and ultra-long-term funds like UBS AM Singapore and Mirae Asset of South Korea, along with the active participation of Asian sovereign-backed capital such as Japan's Orix.

Most notably, the Central Enterprise Strategic Emerging Industry Development Fund (referred to as "CESIF"), supervised and guided by the National Development and Reform Commission, made its first investment in AI pharmaceutical cornerstone subscription through its subsidiary management institution, Guofengtou Innovation Investment Fund. With an initial scale of 51 billion yuan, CESIF focuses on investing in strategic emerging industries such as next-generation information technology, artificial intelligence, and biomedicine. The fact that Guofengtou Fund has intervened for the first time in AI pharmaceutical cornerstone subscription is particularly significant. It indicates that METiS TechBio and its deep focus on AI nanodelivery technology have been incorporated into the strategic vision of national-level capital, becoming a key technology direction supported by the state in the biopharmaceutical field.

At the same time, the collective participation of healthcare-focused funds in the cornerstone investor group is highly convincing. Prominent international healthcare funds such as Deerfield, RTW, and Lake Bleu Capital have joined the cornerstone list. These professional healthcare funds are renowned for their precise judgment of biotechnology pipelines and clinical value, and their involvement signifies that the clinical value and commercial prospects of core pipelines like MTS-004 and MTS-105 in treating major diseases such as PBA and liver cancer have passed the rigorous review of top-tier global healthcare investment institutions. First-tier technology investment firms such as Walden International, Hillhouse, and IDG Capital have also crossed over to participate this time. The combined focus of cross-sector capital on METiS TechBio reflects that the application boundaries of AI nanodelivery technology are expanding from the biopharmaceutical field into a broader technological ecosystem.

The collective subscription by Chinese financial institutions also constitutes a unique highlight of the cornerstone investor group. Top Chinese public offering institutions such as GF Fund, ICBC Credit Suisse Fund, China Asset Management, and Fullgoal Fund have rarely subscribed together. These Chinese public offering institutions have always been known for their prudence, and their large-scale lock-up of blockchain assets is not common in Hong Kong IPOs.

More notably, ICBC Wealth Management and other wealth management subsidiaries are also part of the cornerstone lineup, forming a unified endorsement from "public offering funds + bank wealth management subsidiaries" for METiS TechBio's starting gun in macro-asset allocation. This marks that AI-driven biomedical innovation assets have officially entered the core allocation focus of mainstream institutional investors in China.

The "Five-in-One" Top-Tier Lineup of International Asset Management, Professional Healthcare Funds, AI Technology Funds, National Strategic Funds, and Chinese Public Wealth Management directly contributed to an extraordinary phenomenon in the Hong Kong IPO market — METiS TechBio received approximately 383,300 valid subscription applications during its public offering phase. The proportion of shares allocated to retail investors was significantly clawed back from the initial 5% to 20%, yet they remained in short supply.

International placement saw orders from over 280 institutions, recording an 82-fold oversubscription of the allocatable quota. The subscribers included a large number of long-term sovereign funds and pension funds that never participate in secondary market IPO speculation, indicating that METiS TechBio has transcended the traditional "IPO new share speculation" category to be regarded as a strategic core asset in the AI-driven new era of biomedicine by sovereign capital and long-term funds. The first-day trading volume breaking through 1.2 billion Hong Kong dollars is a true reflection — in the relatively cautious sentiment of the 2026 Hong Kong stock market IPO track, METiS TechBio, with its 173% high opening increase and near 10-billion-Hong-Kong-dollar market capitalization turnover potential, injected a strong liquidity catalyst into the calm secondary market.

Dr. Lai Caida, co-founder, chairman, and CEO of METiS TechBio, stated: "The future of biomedicine is no longer just about 'taking medicine when sick.' METiS TechBio's ambition is to use AI to build nanoscopic rockets, achieving precise navigation within the inner space of the body’s 30 trillion cells, writing the code of nucleic acids and proteins into cells, and reprogramming diseased and aging cells into healthy ones. This is the original aspiration behind our entrepreneurship and the lifelong mission we are committed to. Our IPO marks a new starting point for accelerating our progress, and we will certainly not disappoint the support and affection from all sectors."