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METiS TechBio’s Hong Kong listing puts AI-powered drug delivery in the spotlight
China’s securities regulator filed METiS TechBio’s overseas listing case on March 23, 2026, allowing up to 273,495,000 new overseas listed ordinary shares. Founded in 2020, METiS develops AI assisted nanomaterials, lipid nanoparticles and drug delivery systems.
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Key takeaways
- China’s securities regulator filed METiS TechBio’s overseas listing case on March 23, 2026, allowing up to 273,495,000 new overseas listed ordinary shares.
- Founded in 2020, METiS develops AI assisted nanomaterials, lipid nanoparticles and drug delivery systems.
- Lead candidate MTS 004 has met the primary endpoint in a Chinese Phase III trial for pseudobulbar affect, while MTS 105 remains an early stage mRNA program designed to deliver a T cell engager through a liver targeted...
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openai.comCreate a landscape editorial hero image for this Studio Global article: What is MRTIS TechBio (Beijing) Co., Ltd., when did it receive CSRC approval to pursue a Hong Kong overseas listing, how many new shares doe. Article summary: “MRTIS” appears to refer to **METiS TechBio (剂泰科技)**, legally METiS TechBio (Beijing) Co., Ltd.: a Beijing-based AI-enabled nanomedicine and drug-delivery company. It combines computational design with experimental valid. Topic tags: general, general web, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts with fa
METiS TechBio—also known in China as Jitai Technology (剂泰科技)—is a Beijing-based biotech focused on a less glamorous but crucial problem in medicine: getting a drug to the right place in the body.
Rather than operating as a conventional software company for drug discovery, METiS combines artificial intelligence with nanomaterials and laboratory testing to design delivery systems for mRNA, other biologic medicines and small-molecule drugs. The company was founded in 2020 by Chris (Caida) Lai, Chen Hongming and Wang Wenshou. Lai is also identified in public company coverage as a co-founder and chief executive. 47
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What the CSRC filing means for the Hong Kong listing
The China Securities Regulatory Commission published METiS TechBio’s overseas issuance and listing filing on March 23, 2026. The filing allows the company to issue up to 273,495,000 overseas-listed ordinary shares and list them on the Hong Kong Stock Exchange. 21
It also covers a separate “full circulation” arrangement. Under the scheme, 39 shareholders plan to convert a combined 851,697,111 domestic unlisted shares into overseas-listed shares that can trade in Hong Kong. 21
The two figures should not be conflated:
- 273.495 million shares are new shares the company may issue as part of the offering, potentially generating IPO proceeds.
- 851.697 million shares are existing domestic unlisted shares being converted by current shareholders. Their conversion is not the same as a new share issue by the company.
METiS subsequently raised more than HK$2.1 billion in its Hong Kong IPO. 3
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What does METiS TechBio do?
The company’s model links four stages of drug development: AI-based material design, computer simulation, experimental screening and therapeutic development.
That approach addresses a familiar bottleneck in modern medicine. A promising active ingredient may still fail to work effectively if it cannot remain stable in the body, reach the intended organ, enter the right cells or remain active for long enough.
METiS’s answer is a technology stack built around NanoForge, which the company describes as an AI-driven nanotechnology innovation platform. NanoForge combines AI foundation models and AI agents with quantum chemistry, molecular-dynamics simulations, AI-assisted high-throughput screening and wet-lab validation. 33
NanoForge’s lipid library and eight delivery targets
One of the platform’s core assets is an ionizable-lipid library used to design lipid nanoparticles (LNPs). METiS describes the library as one of the largest of its kind globally. Industry coverage says the platform has generated more than 10 million lipid structures and assembled roughly 100,000 data points for AI model training. 42
Those figures describe the scale of the company’s reported research resources; they should not be read as regulatory evidence of clinical efficacy.
According to METiS’s public materials, NanoForge has been used to develop targeted-delivery designs for eight major organs or tissues:
- liver
- lungs
- heart
- muscle
- tumors
- the immune system
- the central nervous system
- the gastrointestinal tract
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In practical terms, the delivery vehicle can influence where a payload travels, which cells take it up and whether an mRNA payload produces the intended protein inside the body. METiS says its platform is applicable to RNA medicines, antibodies and other biologics, as well as small-molecule drugs. 33
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The company’s two most closely watched candidates
MTS-004: a Phase III milestone in pseudobulbar affect
MTS-004 is a small-molecule candidate developed using METiS’s AI-enabled formulation technology. Its lead indication is pseudobulbar affect (PBA), a neurological condition involving involuntary or difficult-to-control episodes of crying, laughing or other emotional expression.
In October 2025, METiS announced that MTS-004 had met the primary endpoint in a Chinese Phase III trial for PBA. The company described it as the first Chinese drug candidate designed with AI-driven formulation technology to reach this stage. 2
The company’s pipeline also lists dysphagia, or swallowing difficulty, as another development direction for MTS-004. 37
A Phase III success is an important clinical milestone, but it is not the same as marketing approval. The candidate would still need to pass regulatory review and meet requirements for manufacturing and commercial launch.
MTS-105: an early-stage mRNA cancer program
MTS-105 is an mRNA therapeutic candidate built on METiS’s AiRNA and AiLNP platforms. Its design uses mRNA to encode a T-cell engager (TCE), while an optimized LNP system is intended to target the liver and sustain expression in the body. 36
The proposed applications include hepatocellular carcinoma, the most common form of primary liver cancer, and other advanced solid tumors with liver metastases. The intended effect is to produce immune activation in the liver or near the tumor site. 36
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As described in the relevant listing materials, MTS-105 remained an early-stage program at the IIT stage, rather than an approved or clinically validated commercial medicine. 36
The two candidates therefore tell different parts of the METiS story. MTS-004 is the company’s more mature clinical development example, while MTS-105 illustrates its longer-term ambition to use targeted nanodelivery for mRNA medicines and cancer immunotherapy.
Funding and notable investors
METiS raised substantial private capital before entering the public markets. The company said two financing rounds completed in 2022 raised a combined US$150 million, with PICC Capital and China Life Private Equity as lead investors. Sequoia China, 5Y Capital, CMB International, Lightspeed China, Monolith and Frees Fund also participated. 51
The company later completed an approximately US$100 million Series C led by a fund under CICC Capital, with participation from a fund associated with China Taiping. 52
Its reported Series D, announced in 2025, raised RMB400 million and was jointly led by the Beijing Pharmaceutical and Health Industry Investment Fund and the Daxing District Industrial Investment Fund. 48
METiS’s early angel financing was led by Frees Fund Capital, with Source Code Capital and XtalPi among the participating investors. 46
Company announcements and media reports put total pre-IPO fundraising at more than RMB2.5 billion, although databases may use different counting methods and report different totals. 11
46 The later Hong Kong IPO proceeds should be counted separately from those private financings.
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How to assess the listing story
METiS’s investment case rests on applying AI to a specific pharmaceutical bottleneck—drug delivery—rather than relying solely on AI for target identification or molecule screening.
NanoForge is intended to connect materials databases, computational modelling, automated experiments and drug-candidate development. MTS-004 gives the company a clinical example that has reached the Phase III milestone. 2
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The key distinction for investors and industry observers is between platform claims, clinical evidence and commercial value. A large lipid library and stated delivery capability across eight organs describe the company’s technology platform and reported research achievements. MTS-004’s primary-endpoint result is a clinical milestone. MTS-105, meanwhile, remains an early-stage program.
CSRC filing clearance and a Hong Kong listing give METiS access to public-market capital, but they do not replace drug approval, further clinical validation or proof of commercial demand.
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China’s securities regulator filed METiS TechBio’s overseas listing case on March 23, 2026, allowing up to 273,495,000 new overseas listed ordinary shares.
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China’s securities regulator filed METiS TechBio’s overseas listing case on March 23, 2026, allowing up to 273,495,000 new overseas listed ordinary shares. Founded in 2020, METiS develops AI assisted nanomaterials, lipid nanoparticles and drug delivery systems.
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Lead candidate MTS 004 has met the primary endpoint in a Chinese Phase III trial for pseudobulbar affect, while MTS 105 remains an early stage mRNA program designed to deliver a T cell engager through a liver targeted...