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Nvidia-Backed AI Drugmaker Iambic Raises $150 Million In US IPO
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Moneycontrol•15-10-2026, 09:23
Nvidia-Backed AI Drugmaker Iambic Raises $150 Million In US IPO
- •Iambic Therapeutics Inc., a cancer drugmaker and tech firm backed by Nvidia, raised $150 million by pricing its US IPO at $16 per share.
- •The San Diego-based company achieved a market value of $758 million at the IPO price based on outstanding shares.
- •The firm utilizes artificial intelligence and machine learning to discover new cancer treatments and advance three early-stage drug candidates.
- •Existing investors including ARK Investment Management and Duquesne Family Office expressed interest in purchasing up to $60 million in shares.
- •The company is set to begin trading on the Nasdaq Global Select Market under the ticker symbol IAM.
Key Questions Answered
Iambic Therapeutics raised $150 million by selling about 9.38 million shares at $16 each, which was the midpoint of its marketed range of $15 to $17 per share. This gives the San Diego-based cancer drugmaker a market value of $758 million.
The company will use the proceeds generated from the US IPO to advance three early-stage cancer drug candidates in its pipeline.
ARK Investment Management, an existing investor, and billionaire Stanley Druckenmiller’s Duquesne Family Office expressed interest in purchasing up to $60 million worth of shares in the offering combined.
