Watch Desk posted an update
AI drug-discovery company Iambic Therapeutics is seeking to raise up to $159.4 million in a US IPO, Reuters reports. The proposed offering would value the company at up to $805.8 million, with shares priced at $15 to $17 each.
Why it mattersIambic is developing cancer drug candidates using its AI platform and has partnerships with AbbVie and Takeda, according to Reuters. The company plans to list on Nasdaq under the ticker IAM. It is a concrete test of investor appetite for a biotech using AI, though Iambic’s valuation also rests on its drug pipeline and the long road to approval.
Discuss: Should investors judge AI drugmakers mainly by their technology, or by the medicines they can get through trials?
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