Iambic Therapeutics filed for an IPO, adding to the wave of AI-focused biotech startups seeking public-market funding. The San Diego-based company disclosed details on pipeline programs and positioned itself as part of an emerging category where machine learning and platform assets aim to shorten early discovery and development cycles. Separately, Electra Therapeutics’ upsized IPO aims to fund development of a new class of precision immunology medicines targeting a rare hyperinflammatory disorder with no FDA-approved treatments. The public-market push underscores investor willingness to underwrite early platform and modality bets, provided risk controls and near-term clinical milestones are credible. Together, the filings highlight how biotech capital formation continues to pivot toward AI-enabled discovery and precision immunology, with IPOs serving as validation events for platform credibility and clinical translation plans.