SAN DIEGO, Calif. — Iambic, a clinical-stage life science and technology company developing new medicines through its AI-driven discovery and development platform, announced that it has raised more than $100 million in an oversubscribed financing round. The funding included participation from both new and existing investors across life sciences, technology, growth, and sovereign wealth sectors. Participants included Abingworth, Alexandria Venture Investments, Alumni Ventures, ARK, Ascenta, Catalio, Everbright Biofund, Freeflow Ventures, Illumina Ventures, Mubadala, Pegasus Tech Ventures, Qatar Investment Authority, Regeneron Ventures, Sequoia, Tao Capital Partners, Terra Magnum Capital Partners, Wilson Sonsini Goodrich & Rosati, and others.
“We are thrilled to have the support of many outstanding and committed investors who are partnering with Iambic to advance our mission of creating technologies to bring better medicines to patients,” said Tom Miller, Ph.D., co-founder and chief executive officer of Iambic. “We are proud of the scientific and business progress Iambic has made across its pipeline, partnerships, and platform over this past year and view this fundraise as a testament to the exceptional work of the Iambic team. We look forward to continuing Iambic’s progress and anticipate our KIF18A and CDK2/4 programs entering the clinic as well as additional discovery and technology enablement collaborations in the near term.”
The financing follows the company’s recent presentation of clinical data for IAM1363 at the European Society for Medical Oncology (ESMO) Congress. In that study, IAM1363 showed anti-tumor activity and a favorable safety profile across HER2-wild-type and HER2-mutated cancers in multiple disease settings. Iambic subsequently announced a clinical collaboration with Jazz Pharmaceuticals to evaluate combination treatment with zanidatamab and IAM1363 in patients with HER2-positive breast cancer previously treated with Enhertu.
Earlier in the year, Iambic entered into a technology collaboration with Revolution Medicines that provides the company access to proprietary data, while Iambic provides access to its NeuralPLexer protein-ligand structure prediction platform. The company also recently reported benchmark results for Enchant, its multimodal transformer model designed to predict clinical and preclinical endpoints with high confidence.
