Iambic Therapeutics Closes $100M Series B Financing

Iambic Therapeutics

Iambic Therapeutics (formerly known as Entos), a San Diego, CA-based biotechnology company developing novel therapeutics from its generative AI discovery platform, closed a $100m Series B financing.

The round was co-led by Ascenta Capital and Abingworth, with participation from new investors NVIDIA, Illumina Ventures, Gradiant Corporation, and independent board member Bill Rastetter. Existing investors also participated, including Nexus Ventures, Catalio Capital Management, Coatue, FreeFlow, OrbiMed, and Sequoia Capital. As part of the Series B, Iambic added Evan Rachlin, M.D., from Ascenta Capital and Kurt von Emster from Abingworth to its board.

The company intends to use the funds to advance multiple candidates into clinical development, expand its pipeline with additional candidates with best-in-class and first-in-class potential, and continue to innovate and build next-generation AI and automation technologies for drug discovery. It plans to leverage NVIDIA technology such as theĀ NVIDIA DGX CloudĀ AI supercomputing platform and theĀ NVIDIA BioNeMoĀ cloud service to accelerate discovery.

Led by Tom Miller, Ph.D., Co-founder and Chief Executive Officer, Iambic Therapeutics leverages an AI-driven drug-discovery platform to deliver therapeutics to clinic with speed and across multiple target classes and mechanisms of action. Since its 2021 Series A financing, Iambic has built its AI-driven discovery platform, which unifies physics-informed machine learning and experimental automation, and has demonstrated the platformā€™s success in identifying therapeutic candidates with differentiated drug profiles. In addition to building out a deep bench of AI and drug-discovery experts, Iambic has discovered two candidates to advance into the clinic:

  • IAM-H1, a highly selective and brain-penetrant inhibitor of HER2 and its oncogenic mutants, and
  • IAM-C1, a potential first-in-class selective dual CDK2/4 inhibitor to address unmet needs in terms of therapeutic window and treatment resistance in cell-cycle-driven cancers.

FinSMEs

06/10/2023