Iambic Therapeutics files for US IPO with Nvidia backing

A biotech startup that uses artificial intelligence to find new drugs just took its biggest step yet toward the public markets. Iambic Therapeutics filed an S-1 registration statement with the SEC, setting the stage for a Nasdaq listing that comes with a notable name on its cap table: Nvidia. The San Diego-based company, founded in 2019 under the name Entos, plans to trade under the ticker symbol “IAM” on the Nasdaq Global Select Market. It has raised approximately $461.8 million in total capital from investors including Catalio, Nexus Ventures, Coatue Management, and Q Healthcare Holding, which is linked to the Qatar Investment Authority. Where AI meets the laboratory Iambic has a strategic technology collaboration with Nvidia that goes beyond a passive equity stake. Nvidia’s involvement centers on optimizing Iambic’s drug discovery platform through advanced hardware and software integration, essentially giving the biotech company faster, more powerful computational tools to identify promising drug candidates. The company’s most advanced clinical asset is IAM1363, a treatment targeting solid tumors. Its pipeline also includes programs designated IAM-H1 and IAM-C1. Around the time ...