Leju Finance Lan Lan
On June 27, British Silicon Intelligence submitted a prospectus on the Hong Kong Stock Exchange. Morgan Stanley and CICC are co-sponsors.
According to Leju Finance's “Pre-Audit IPO”, British Silicon Intelligence is a world-leading AI biotechnology company that provides end-to-end efficient solutions in the pipeline development process. During the reporting period, British Silicon's smart revenue mainly came from drug discovery services and software solution services.
According to the prospectus, British Silicon Intelligence established its Hong Kong headquarters in 2019. The team consists of disease modelling and target discovery scientists and generative artificial intelligence engineers led by the CEO living in Hong Kong. British Silicon Intelligent's generative AI platform helps rapidly and effectively advance a fully independently designed and developed AIDD pipeline consisting mainly of new drug candidates.
By the last practical date, British Silicon Intelligence had effectively established a diversified complete in-house generation pipeline consisting of 31 projects, covering 29 drug targets.
According to reports, ISM001-055 (also known as INS018_055) is a small-molecule drug candidate mainly used to treat fibrosis-related indications by inhibiting TNIK. TNIK is a novel anti-fibrosis target identified through our Pharma.AI platform.
In April 2023, British Silicon Intelligence launched a multi-center, randomized, double-blind, placebo-controlled phase IIa clinical trial to evaluate the safety, tolerability, PK and efficacy of ISM001-055 in China, and plans to launch phase IIa clinical trials in the US in the second half of 2023. Additionally, ISM001-055 was certified as an orphan drug by the FDA in February 2023, making it eligible for incentives, including potential market exclusivity for seven years after approval.
As of the last practical date, British Silicon Intelligence has 70 trademarks and trademark applications and 5 registered software copyrights. He is also a registered owner of 56 domain names.
In terms of equity structure, Dr. Alex Zhavoronkov holds 10.32% of the shares, Mesolite Gem Funds Ltd holds 9.71% of the shares, Wuxi PharmaTech Healthcare Fund I L.P. holds 6.45% shares, Palace Pte, Ltd. holds 6.07% of the shares, Qiming Venture Partners VI, L.P. 5.61%, and other shareholders hold 61.84% of the shares.
British Silicon Intelligence has received long-term support from the world's leading financial and strategic investors in the technology, healthcare and AI industries, including Huaping Investment, Qiming Venture Capital, BCapitalGroup, Prosperity7, Aobo Capital, Deerfield, Lanting Investment, PIDC, CPE Yuanfeng, Future Asset Capital, Lilly Asia Fund, Sidao, Qingchi Capital, Baidu Venture Capital and Innovation Factory. By the last practical date, British Silicon Intelligence had raised more than $400 million.
According to the prospectus, from 2018 to 2022, British Silicon Intelligence experienced a total of 7 rounds of financing. The post-investment valuation increased from 54.4 million US dollars to 895 million US dollars, and the valuation increased nearly 16 times in four years.