Nvidia-Backed AI Drug Discovery Company Iambic Therapeutics Files for Nasdaq IPO, to Use Proceeds for Cancer Drug Development

Iambic Therapeutics, Inc., an AI drug discovery company backed by Nvidia Corp. (NASDAQ:NVDA) and the Qatar Investment Authority, filed for an initial public offering, according to an S-1 filing with the SEC on Monday. Plans to List on Nasdaq, Under Ticker ‘IAM’ Iambic said it plans to use the IPO proceeds, along with its existing cash, to continue advancing its three cancer drug candidates through clinical development, with any remaining funds going toward general operating costs. It will go public on the Nasdaq Global Select Market under the ticker “IAM.” The filing did not disclose the number of shares to be offered or an expected price range. J.P. Morgan, Jefferies, BofA Securities and Citigroup are underwriting the offering. Read Also: Meta Platforms, Greenland Mines, Intel, AMD and GameStop: Why These 5 Stocks Are on Investors' Radars Today The Company’s AI Drug Platform Founded in 2019, Iambic combines proprietary AI models with automated lab experiments to discover new drugs, an approach it calls “molecular superintelligence.” Its lead drug candidate, an experimental cancer pill designed to target tumors driven by the HER2 protein, is currently in early human trials. Two additional cancer drug candidates remain in earlier lab-stage testing, with Iambic planning to seek FDA clearance to begin human trials on both by the end of the year. The Delaware-based company has raised roughly $461.8 million in capital since its founding through Sept. 18, from investors including Catalio, Nexus Ventures, Q Healthcare Holding, Nvidia, and Coatue Ventures, its five largest shareholders. The company also holds partnerships with major pharmaceutical firms, including AbbVie Inc. (NYSE:ABBV), Takeda Pharmaceutical Company Limited (NYSE:TAK), and Jazz Pharmaceuticals PLC (NASDAQ:JAZZ). Revenue Growing, But Losses Widening Iambic’s full-year 2025 revenue was $9.4 million, up from $1.2 million in 2024, while its net loss widened to $77.3 million from $47.9 million over the same period.Benzinga edge rankings indicate Nvidia’s stock has a Momentum score in the 81st percentile and a Growth score in the 98th percentile. See More: Top Growth Stocks Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: fadfebrian on Shutterstock.com