Iambic Therapeutics Files for Nasdaq IPO and Partners with AbbVie

Iambic Therapeutics, a San Diego-based drug developer, filed for an initial public offering on the Nasdaq under the symbol IAM on Monday. The company utilizes an AI platform to develop treatments for solid tumors, with its most advanced candidate, IAM1363, currently in early-stage trials for breast and other cancers.

Simultaneously with the IPO filing, the company announced a multi-year collaboration with AbbVie to accelerate the AI-driven discovery of small molecule therapies. The offering is being underwritten by J.P. Morgan, Jefferies, BofA Securities, and Citigroup.

Iambic Therapeutics is backed by Nvidia and the Qatar Investment Authority. This move comes during a period of increased activity in the biotech sector, following recent IPO filings by Retension Pharmaceuticals and TRex Bio, as well as a roadshow launch by ADARx Pharmaceuticals.