Iambic Therapeutics raises $150 million in IPO, begins Nasdaq trading under ticker IAM
Iambic Therapeutics, an AI-driven drug discovery startup, completed an initial public offering that raised $150 million.
The company sold about 9.4 million shares at $16 each and will start trading on Nasdaq under the symbol "IAM".
Since its founding in 2019, Iambic has secured $462 million from investors such as Nexus, Catalio Capital Management, Abingworth and Illumina Ventures, providing capital to advance its first targeted cancer therapy into early human trials.
The IPO reflects a broader trend of young biotech firms leveraging artificial intelligence to speed drug development, attracting interest from venture capital and large pharmaceutical companies.
This writeup was produced by pharmadog from original reporting by BioPharma Dive.
Original headline: “Iambic, an AI drug discovery specialist, banks $150M in an IPO”
read at BioPharma Dive ↗
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