Series B now exceeds $150 million following Investment from Mubadala Capital, Exor Ventures and QIA, Alongside Additional Funding by Existing Investors

June 18, 2024 05:00 AM Pacific Daylight Time

SAN DIEGO–(BUSINESS WIRE)–Iambic Therapeutics, a clinical-stage biotechnology company developing novel therapeutics using its unique AI-driven discovery platform, today announcedthe closing of an oversubscribed $50 million extension to its Series B financing. The Series B extension was led by new investors Mubadala Capital and Exor Ventures, with participation from Qatar Investment Authority (QIA), and existing investors Abingworth, Illumina Ventures, Nexus Venture Partners, Coatue, and Tao Capital Partners.

“Iambic is a company purpose-built for AI and drug discovery and we are excited to see how their machine learning and drug hunting expertise will help deliver on the promise of AI to bring potential life-saving medicines to patients.”

The extension adds to an oversubscribed $100 million Series B that closed in October and was co-led by Ascenta Capital and Abingworth and joined by NVIDIA and others.

Proceeds from the latest financing will be used to further Iambic’s pipeline of clinical and pre-clinical programs. These include IAM1363, a highly selective, brain penetrant small molecule inhibitor of both wild-type and oncogenic HER2 mutants currently in a Phase 1/1b study, as well as a potential first-in-class selective dual CDK2/4 inhibitor designed to expand the therapeutic window and address treatment resistance in solid tumors in diseases such as breast cancer.

“We are delighted to build this strong team of investors around the company who share our conviction in the demonstrated power of the Iambic AI-driven technology platform to deliver highly differentiated drugs to the clinic,” said Iambic’s Chief Executive Officer Thomas Miller, Ph.D.

Iambic’s pipeline candidates were discovered using its leading AI models for protein structure prediction and wholistic drug design. These technologies are integrated within a closed-loop, automated, high-throughput biology and chemistry experimental platform that provides new biological insights from thousands of molecular designs each week, which in turn directly inform its AI models.

“Iambic is a true innovator, both in the demonstrated accuracy and speed of its state-of-the art AI drug discovery models, and its ability to rapidly advance candidates from discovery and into human studies,” said Ayman AlAbdallah, Partner at Mubadala Capital. “Iambic is a company purpose-built for AI and drug discovery and we are excited to see how their machine learning and drug hunting expertise will help deliver on the promise of AI to bring potential life-saving medicines to patients.”

About the Iambic Therapeutics Physics-Informed AI-Driven Discovery Platform

The Iambic Therapeutics AI-driven platform was created to address the most challenging design problems in drug discovery, incorporating the most current AI technologies and purpose-built tools from Iambic. The integration of physics principles into the platform’s AI architectures improves data efficiency and allows molecular models to venture widely across the space of possible chemical structures. The platform’s algorithms enable identification of new chemical mechanisms for engaging difficult-to-address biological targets, discovery of defined product profiles that optimize therapeutic window, and exploration of the chemical space to discover candidates for development with highly differentiated properties. Through close integration of AI-generated molecular designs with automated experimental execution, Iambic completes design-make-test cycles on a weekly cadence.

About Iambic Therapeutics

Founded in 2019 and headquartered in San Diego, California, Iambic Therapeutics is disrupting the therapeutics landscape with its unique AI-driven drug-discovery platform. Iambic has assembled a world-class team that unites pioneering AI experts and experienced drug hunters with strong track records of success in delivering clinically validated therapeutics. The Iambic platform has been demonstrated to deliver high-quality, differentiated therapeutics to clinical stage with unprecedented speed and across multiple target classes and mechanisms of action. The Iambic team is advancing an internal pipeline of clinical assets to address urgent unmet patient needs. Learn more about the Iambic team, platform, and pipeline at iambic.ai.

Contacts

Jason Glashow
Glashow Strategic Communications for Iambic
Jason.Glashow@iambic.ai

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