METiS TechBio’s blockbuster IPO signals rising investor interest in AI startups focused on how drugs are delivered inside the body
Updated
May 14, 2026 3:02 PM
HIV-1 virus particles, coloured red. PHOTO: UNSPLASH
Investors are beginning to place bigger bets on AI startups focused on drug delivery infrastructure rather than drug discovery alone. That shift was on display this week after METiS TechBio, a Hong Kong tech-bio startup focused on AI-powered drug delivery systems, debuted on the Hong Kong Stock Exchange.
The listing made METiS TechBio the world’s first publicly traded AI-powered drug delivery startup and the first AI-powered large-molecule biopharmaceutical startup listed in Hong Kong. The startup raised more than HKD 2.1 billion through its IPO, making it the largest healthcare listing in Hong Kong so far in 2026.
Investor demand was unusually strong. The Hong Kong public offering was oversubscribed by more than 6,900 times while the international tranche recorded 82 times oversubscription. More than 280 institutional investors participated in the international placing.
The strong demand reflects a wider shift in AI biotech. Over the past few years, much of the sector’s attention has focused on using AI to discover new drugs or molecules. METiS is taking a different approach. The startup focuses on how medicines are delivered inside the body after they are developed.
That challenge is becoming harder to ignore in biotech. Designing a therapy is only one part of the process. Delivering it precisely to specific organs, tissues or cells remains a major hurdle, especially for newer therapies involving RNA, proteins and large-molecule drugs.
METiS is trying to solve that problem through its proprietary NanoForge platform. The system uses AI to design and test nanodelivery systems that help medicines reach targeted areas inside the body more efficiently. The platform combines AI models, simulation systems and high-throughput screening tools to speed up formulation development and improve delivery precision.
The startup says it has already achieved targeted delivery across eight organs and tissue systems including the liver, lungs, heart, muscles and central nervous system.
One of its lead programs, MTS-004, became China’s first AI-enabled formulation drug to complete a Phase III clinical trial. The drug is being developed for pseudobulbar affect, a neurological condition that affects emotional expression. According to the startup, AI tools helped reduce preclinical formulation development time from up to two years to less than three months.
Investor interest in the IPO also came from some of the world’s largest asset managers and healthcare funds. BlackRock led the cornerstone investments with a USD 50 million subscription. Other participating investors included UBS Asset Management Singapore, Mirae Asset, ORIX Corporation, Deerfield, RTW, Hillhouse Capital and IDG Capital.
METiS is also building what it describes as a “platform collaboration + product partnership” business model. The startup currently works with more than 30 pharmaceutical and biotechnology partners globally, including large pharmaceutical companies and medical research institutions.
The company reported RMB 105 million in revenue in 2025, largely tied to upfront payments connected to its MTS-004 partnership agreements. It also said some platform collaboration contracts could reach milestone values of up to USD 109 million.
Chris Lai said: "The future of biomedicine will no longer be simply about 'taking medicine when one falls ill.' METiS TechBio's ambition is to harness AI to build nano-rockets that can navigate with precision through the inner space of the human body's 30 trillion cells, write the code of nucleic acids and proteins into cells, and reprogram diseased and aging cells into healthy cells. This was our founding aspiration, and it is the mission to which we will dedicate our lives. The IPO marks a new starting point for us to accelerate forward, and we will strive to live up to the support and trust we have received from all sectors."
The IPO also highlights how Hong Kong is increasingly positioning itself as a hub for next-generation biotech and AI healthcare startups. While investor excitement around AI drug discovery has cooled in parts of the market, startups focused on delivery systems and biotech infrastructure are beginning to attract stronger institutional backing.
For METiS, the challenge now will be turning that investor confidence into commercially viable therapies and long-term partnerships. But the listing suggests that AI-driven drug delivery is starting to emerge as a category investors are willing to treat as core biotech infrastructure rather than a niche research experiment.
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A humanoid robot being escorted away by police in Macau has gone viral online, prompting jokes about what some called the world’s first “robot arrest.”
Updated
April 1, 2026 8:55 AM
Macau police officer accompanying the humanoid robot. PHOTO: THREADS@BOXOF_CHOCOLATE
Police in Macau recently detained a humanoid robot after it frightened an elderly woman on a public street. The unusual encounter quickly spread online, prompting jokes about what some called the world’s first “robot arrest”.
On the evening of March 5, the robot was taken away by officers after the encounter triggered alarm among bystanders. Videos circulating on social media show an elderly woman confronting the robot on a sidewalk, visibly distressed and shouting that her “heart is pounding” while demanding to know why such “nonsense” was happening on the street. In the clip, the robot raises both hands toward the woman after she lashes out in fear — a gesture many viewers interpreted as a sign of apology.
Shortly afterwards, two officers from the Macau Public Security Police Force were seen escorting the robot and a man believed to be its operator away from the area. An officer is seen placing his right hand on the robot’s shoulder — the same posture police often use when presenting arrested suspects in official photographs.
That scene quickly spread online, fuelling jokes about what some called the world’s first “robot arrest”.
Photos shared online show a humanoid robot with long limbs and exposed mechanical joints, built from a black metallic frame without an outer shell. In dim lighting, several commenters said it resembled a “moving skeleton” — a striking sight for pedestrians encountering it unexpectedly on the street.
Witnesses said the woman appeared severely shaken and an ambulance was eventually called to take her to the hospital.
The incident also sparked discussion online about robots operating in public spaces. Some commenters argued that experimental technologies should be tested in controlled environments, while others said machines moving through public areas should have clearer designs or safety measures to avoid alarming pedestrians.
It remains unclear who deployed the robot or what purpose it was serving in the area at the time of the incident. Authorities have not released further details about the device or whether any action was taken following the encounter.