Iambic Therapeutics CEO discusses $150 million IPO and AI's evolving role in drug development

Iambic Therapeutics completed a $150 million initial public offering, raising fresh capital and seeing its share price climb to about $24.50, roughly a 50% increase from earlier in the week.

CEO Tom Miller told BioPharma Dive about the roadshow experience and his view that artificial intelligence will play a growing part in discovering new medicines.

The broader market remains cautious toward AI-focused biotech firms, noting that peers such as Exscientia and Recursion have seen their stock values tumble after going public.

Iambic hopes its stronger funding and early share-price momentum will set it apart from earlier entrants in the space.