BioMap, an AI life sciences startup backed by Baidu Inc., has confidentially filed for a Hong Kong initial public offering. Baidu CEO Robin Li co-founded the venture in 2020.
The company is working with CICC, Morgan Stanley, and UBS on the listing. The offering could raise several hundred million dollars.
BioMap uses artificial intelligence to model biological mechanisms and improve drug development efficiency. The firm intends to use the capital to expand its operations.
Specific details regarding the timing and size of the IPO remain under deliberation.