Iambic Therapeutics, a San Diego, CA-based clinical-stage biotechnology company, raised $50M in Series B extension funding.
The round was led by 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.
The extension added to a $100M Series B that closed in October 2023 and was co-led by Ascenta Capital and Abingworth and joined by NVIDIA and others.
The company intends to use the funds to further its pipeline of clinical and pre-clinical programs.
Led by CEO Thomas Miller, Iambic Therapeutics leverages an AI-driven drug-discovery platform whose 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.
Iambic’s pipeline of clinical and pre-clinical programs includes 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.
FinSMEs
19/06/2024