Iambic Therapeutics Launches Nasdaq IPO to Raise $159 Million

Iambic Therapeutics, an AI-driven drug discovery company backed by Nvidia, has launched an initial public offering on the Nasdaq under the ticker symbol IAM. The company seeks to raise up to $159.4 million by offering approximately 9.38 million shares priced between $15 and $17 each, a move that would value the firm at up to $805.8 million.

Founded in 2019 as Entos, the company uses an AI platform to develop drug candidates for solid tumors. Iambic maintains strategic partnerships with pharmaceutical firms including AbbVie and Takeda Pharmaceutical. ARK Investment Management and Duquesne Family Office have already expressed interest in purchasing $60 million worth of shares.

The offering arrives during a volatile fall IPO market marked by geopolitical tensions and rising Treasury yields. Despite these headwinds, investor interest remains high for biotech firms utilizing AI enhancements.