Iambic Therapeutics targets $135M IPO to fund clinical trials of HER2 and KIF18A cancer drugs

Iambic Therapeutics, a San Diego AI‑driven biotech, filed to raise $135 million in net proceeds through an initial public offering.

The company plans to sell 9.4 million shares at $15 to $17 each, which could generate about $150 million in gross proceeds and up to $155.9 million if underwriters exercise their option for additional shares.

Funding will be allocated primarily to its lead HER2 inhibitor, IAM1363, with $75 million earmarked to move the drug from phase 1 into later‑stage trials, and $15 million each for IAM217, a KIF18A inhibitor aimed at ovarian, triple‑negative breast, and other solid tumors.

The proceeds are intended to support phase 2 and phase 3 studies for IAM1363 and further clinical development of IAM217, expanding Iambic's pipeline of brain‑penetrant cancer therapies.