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AI Drug Developer Iambic Therapeutics, Backed by Nvidia, Files for US IPO
Iambic Therapeutics, a clinical-stage biotechnology company that uses artificial intelligence to develop cancer treatments, has filed for an initial public offering in the U.S. The San Diego-based firm, which counts chipmaker Nvidia Corp. as a shareholder, plans to list on the Nasdaq Global Select Market under the ticker symbol IAM.
Use of Proceeds and Offering Details
According to a regulatory filing submitted on Monday to the U.S. Securities and Exchange Commission, Iambic intends to use the net proceeds from the IPO to advance its pipeline of three early-stage oncology drugs. The company did not disclose the number of shares it plans to offer or the target price range for the offering.
The offering is being underwritten by a syndicate of major banks, including J.P. Morgan, Jefferies, BofA Securities, and Citigroup. The underwriters have been granted a 30-day option to purchase additional shares.
AI-Powered Oncology Pipeline
Iambic's most advanced candidate is IAM1363, an oral small molecule inhibitor designed to target human epidermal growth factor receptor 2 (HER2). The company reported that as of September 2026, the drug is in an ongoing Phase 1/1b clinical trial for patients with advanced HER2-altered solid tumors.
AdThe company is also preparing to advance two other programs, with plans to file Investigational New Drug (IND) applications for both in the fourth quarter of 2026:
- IAM217: A brain-penetrant inhibitor targeting KIF18A, with potential applications in ovarian and triple-negative breast cancer.
- IAM-C1: A selective dual inhibitor of cyclin-dependent kinases 2 and 4 (CDK2/4).
High-Profile Financial Backing
Prior to its IPO filing, Iambic Therapeutics has attracted significant venture capital investment. The company has raised approximately $461.8 million in capital through September 18, 2026.
Its roster of investors includes prominent firms such as Catalio, Nexus Ventures, Q Healthcare Holding, Coatue Ventures, and AI industry leader Nvidia. This backing highlights investor confidence in the company's AI-driven approach to drug discovery ahead of its public market debut.
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