Iambic, a clinical-stage life science and technology company developing novel medicines using its AI-driven discovery and development platform, announced raising over $100 million in an oversubscribed financing round with balanced support from new and existing investors, including 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, PhD, Iambic Co-Founder and CEO. “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.”
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The announcement of this financing closely follows Iambic’s presentation of clinical data for IAM1363 at the European Society for Medical Oncology (ESMO) Congress, where IAM1363 demonstrated anti-tumor activity and a favorable safety profile across HER2-wild-type and HER2-mutated cancers, as well as in multiple disease indications. Subsequently, Iambic announced a research collaboration with Jazz Pharmaceuticals to evaluate combination therapy with zanidatamab with IAM1363 in patients with HER2-positive breast cancer previously treated with Enhertu®.
Earlier this year, Iambic announced a novel technology-enablement collaboration with Revolution Medicines which is providing access to proprietary data and Iambic is providing access to its NeuralPLexer technology for protein-ligand structure prediction. Iambic also reported industry-leading benchmarks for Enchant, its multimodal transformer model that makes high-confidence predictions of clinical and preclinical endpoints.
Source: Iambic