2025 Hong Kong Stock Exchange's largest Biotech IPO! Aidian Intelligence (03696) has launched its initial public offering: leading in the development of the fastest AI drugs globally.

Leading the fastest AI drug development worldwide, Enhertu Intelligent (03696) will be listed from December 18th to December 23rd. In this IPO, it plans to issue a total of 94,690,500 shares globally, with 10% for public sale in Hong Kong and 90% for international sale. The offering price per share is HK$24.05, with a minimum purchase of 500 shares and an entry fee of HK$12,146.27 per lot. The company is expected to be listed for trading on December 30th, and it is estimated to be the largest Biotech IPO on the Hong Kong Stock Market by 2025. For this listing, Enhertu Intelligent has attracted cornerstone investors such as Lilly, Tencent, Temasek, Schroders Global, UBS, Oaktree Capital, E Fund Management, and Taikang Life, with a total subscription of $115 million from 15 top-tier investment institutions. These investors include global pharmaceutical companies, leading technology enterprises, international sovereign funds, large asset management companies, global thematic funds, domestic leading public funds, and insurance funds. It is worth noting that Lilly and Tencent, as cornerstone investors, represent the two major industry tracks where Enhertu Intelligent operatesbiomedical and technological fields. This also marks Lilly's first entry into cornerstone investments. The cornerstone investors have a strong international presence and are known for their long-term holding and value creation. Additionally, prior to the IPO, Enhertu Intelligent has a strong lineup of investors, including Huaping Capital, B Capital, Prosperity7, Lilly Asia Ventures, Baidu Ventures, Qiming Venture Partners, Sequoia China, WuXi AppTec, and other well-known institutions. Enhertu Intelligent has developed over 20 clinical or IND stage assets through its proprietary generative artificial intelligence platform Pharma.AI. Three of these assets have been licensed to international pharmaceutical and healthcare companies with a contract value of up to $2 billion, including upfront payments of approximately $110 million and milestone payments of around $1.9 billion. Furthermore, there is a Phase II asset in the self-development stage that is relatively advanced in the industry. With the support of its self-developed Pharma.AI platform, Enhertu Intelligent efficiently builds a pipeline portfolio covering over 30 innovative projects in areas such as oncology, immunology, fibrosis, and metabolism. According to the company's R&D data, the average time for developing an innovative molecule from 0 to 1 is less than 18 months, significantly shorter than the traditional method (which averages 4.5 years). The company's core asset, Rentosertib (ISM001-055), is expected to become the world's first candidate drug discovered and entered into Phase III clinical trials with the help of AI. In terms of commercialization, Enhertu Intelligent's business spans globally, and out of the top 20 highest-revenue pharmaceutical companies worldwide, 13 have software platform collaborations with Enhertu Intelligent. Additionally, the company has reached 3 pipeline licensing collaborations with global pharmaceutical companies like Exelixis and Menarini, bringing in a potential revenue of $2 billion. Moreover, several global renowned pharmaceutical companies such as Sanofi, Lilly, and Shanghai Fosun Pharmaceutical have entered into drug development collaborations with Enhertu Intelligent. Leveraging cutting-edge AI technology and deep accumulation in pipeline development, Enhertu Intelligent may experience accelerated growth in the capital market and clinical application. With a successful listing, Enhertu Intelligent is poised to become the first "AI innovative drug" stock on the Hong Kong Stock Exchange, injecting critical capital momentum into the AI pharmaceutical sector.