AI drug discovery and development company Iambic Therapeutics has filed for an initial public offering with the U.S. Securities and Exchange Commission, seeking to become a publicly traded company as it advances several oncology drug candidates.
San Diego-based Iambic plans to list its common stock on the Nasdaq under the ticker symbol “IAM.” The company has not yet disclosed the number of shares it intends to offer or an expected price range.
Iambic combines artificial intelligence with automated chemistry and biology experimentation to support drug discovery and development. The company said the IPO is intended to strengthen its financial position while providing access to public capital markets.
“The principal purposes of this offering are to increase our capitalization and financial flexibility, create a public market for our common stock, facilitate future access to the public equity markets by us, our employees and our stockholders, and increase our visibility in the marketplace,” Iambic said in its SEC filing.
Net proceeds are expected to support clinical development of three programs: IAM1363, IAM217 and IAM-C1. IAM1363 is an oral HER2 inhibitor currently undergoing a Phase 1/1b clinical trial involving patients with HER2-altered solid tumors. IAM217 is being developed as a potential treatment for ovarian cancer, triple-negative breast cancer and other solid tumors. IAM-C1 is designed to inhibit CDK2 and CDK4, enzymes involved in cancer-cell growth.
Any remaining proceeds are expected to support working capital and other general corporate purposes. Iambic said it could also allocate capital toward acquisitions or investments in businesses, products, services or technologies, although it currently has no commitments for material transactions.
Since its founding, Iambic has raised approximately $461.8 million from investors, including $100 million last year. NVIDIA is also a strategic technology collaborator and held approximately 9.6 million shares before the proposed offering.
The filing comes amid broader IPO activity involving health technology and AI companies. Smart ring company Oura recently launched an offering of 50 million shares, including shares sold by existing stockholders, while several major AI companies have also taken formal steps toward potential public listings.
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