INSILICO (03696) saw its shares climb more than 3% in late trading. As of the time of writing, the stock was up 2.89%, trading at HK$38.46, with a turnover of HK$111 million. On January 5, INSILICO announced that the Group has entered into a multi-year research and development collaboration with Servier, a globally independent pharmaceutical company managed by a foundation. The collaboration, valued at up to $888 million, will leverage the Group's self-developed AI platform, Pharma.AI, to focus on challenging targets in the oncology field, aiming to identify and develop novel therapeutic drugs. Under the agreement, the Group is eligible to receive up to $32 million in an upfront payment and near-term R&D milestone payments, and will lead the use of its AI technology platform to discover and develop potential candidate drugs meeting established criteria, while Servier will co-share R&D costs and lead subsequent clinical validation and commercialization. It is noteworthy that on December 30, 2025, INSILICO officially listed on the Main Board of The Stock Exchange of Hong Kong, being recognized by the market as the first "AI drug discovery stock" on the Hong Kong market. Its IPO performance was nothing short of phenomenal: the Hong Kong public offering segment was oversubscribed by approximately 1,427 times, locking in over HK$328.3 billion in subscription funds; the international offering also saw strong demand, recording 26.27 times oversubscription. Both figures set new annual records for the highest subscription levels in Hong Kong healthcare IPOs not governed by Chapter 18A.
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