Baidu-backed (HKG:9888) life sciences startup BioMap Beijing Intelligent Technology confidentially filed for a Hong Kong listing to raise hundreds of millions of dollars this year, Bloomberg News reported Monday, citing people familiar with the matter.

The firm is working with China International Capital, Morgan Stanley and UBS Group on the planned offering, the people told the news agency.

The report cautioned that deliberations were ongoing and details such as size and timing could change.

BioMap and CICC did not respond to requests seeking comment, while Morgan Stanley and UBS representatives declined to comment on the matter, Bloomberg said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)