MegaRobo Technologies is planning a Hong Kong initial public offering as soon as this year to raise at least $300 million, Bloomberg News reported Wednesday, citing people familiar with the matter.

The Beijing-based company uses robotics and artificial intelligence in life sciences research and is working with advisers on the deal, according to the report.

Details such as deal size and timing are still under discussion and may change, Bloomberg said.

Backers of MegaRobo include WuXi AppTec (HKG:2359, SHA:603259), Sinovation Ventures, and the venture arm of German conglomerate Bosch. In 2022, the company raised about $300 million in a funding round led by a unit of Goldman Sachs, the report said.

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