Iambic Therapeutics files for IPO to fund cancer drugs

Iambic Therapeutics Inc., a San Diego-based biopharmaceutical company, has announced its intention to go public on the Nasdaq Global Select Market. The company, which utilizes artificial intelligence to develop innovative cancer treatments, will trade under the ticker symbol IAM. Nvidia Corporation, a prominent player in the technology sector, holds a stake in Iambic Therapeutics.

The IPO proceeds will be allocated towards advancing three promising cancer drugs currently in the early stages of development. The most advanced program, IAM1363, represents an oral small molecule inhibitor targeting human epidermal growth factor receptor 2 (HER2), a protein linked to aggressive breast and ovarian cancers. This compound is currently undergoing a Phase 1/1b basket clinical trial in patients with advanced HER2-altered solid tumors.

Iambic Therapeutics anticipates filing Investigational New Drug applications for two further programs, IAM217 and IAM-C1, in the final quarter of 2026.

IAM217 is a brain-penetrant allosteric inhibitor designed to target KIF18A, a mitotic kinesin protein with therapeutic potential for ovarian cancer and triple-negative breast cancer. IAM-C1 is a unique dual inhibitor of cyclin-dependent kinases 2 and 4. As of September 2026, Iambic Therapeutics has raised approximately $461.8 million in capital from various investors, including Catalio, Nexus Ventures, Q Healthcare Holding, Nvidia, and Coatue Ventures.

The U.S. Securities and Exchange Commission's filing did not disclose the exact number of shares to be offered or the anticipated price range. J.P. Morgan, Jefferies, BofA Securities, and Citigroup have been appointed as underwriters for the offering. The company has granted these underwriters a 30-day option to purchase additional shares.