Nvidia-Backed AI Biotech Iambic Up 16% After $150 Million IPO
Iambic Therapeutics Inc., an AI-driven biotech firm backed by Nvidia, saw its shares rise 16% in its IPO debut, trading at $18.50 after raising $150 million. The company, which focuses on cancer drug discovery, now has a market value of $877 million. Proceeds will advance three early-stage drug candidates. Key investors include ARK Investment Management and Stanley Druckenmiller's Duquesne Family Office.