Nvidia-Backed AI Drug Discovery Startup Iambic Files for Nasdaq IPO
- Iambic Therapeutics filed for a Nasdaq IPO under ticker IAM, seeking up to $100 million.
- The AI-native drug discovery company combines machine-learning models with automated wet-lab chemistry, backed by Nvidia and Coatue.
- Its lead program, an oral HER2 inhibitor called IAM1363, is in early-stage trials for HER2-altered solid tumors.
- 2025 revenue was about $9 million, while net loss widened to roughly $77 million.
💡 Points
Iambic's IPO is really a referendum on whether public markets still believe in the AI-native drug discovery thesis after Recursion's and BenevolentAI's rocky rides. A $100M raise against a $77M net loss and just $9M in revenue is thin, and Nvidia's and Coatue's names on the cap table are doing more of the selling here than IAM1363's early data.
Nvidia-backed AI biotech Iambic Therapeutics files for IPO ↗