The drug disconnect between Iambic and Isomorphic
Wall Street is scratching its head over Iambic Therapeutics, an AI biotech that plans to go public this week.
TL;DR
- Iambic Therapeutics, an AI biotech, plans to go public this week.
- The company believes its AI platform can identify, develop, and commercialize drugs.
- Iambic has a cancer candidate in early clinical trials and two more Phase 1 trials planned.
- The IPO aims to raise around $160 million at a $900 million valuation.
- Stan Druckenmiller's Duquesne Family Office and ARK Investment Management are investing in the IPO.
- Competitor Isomorphic Labs, backed by Alphabet and co-founded by Demis Hassabis, is reportedly in talks for a $40 billion valuation.
- Valuation differences are attributed to a 'Google/Demis Hassabis premium' for Isomorphic, Isomorphic's AI-first founding team, and public market concerns over previous computational drug discovery setbacks.