{
  "id": 9018733,
  "title": "Nvidia, QIA-backed Iambic Therapeutics files for US IPO as biotech boom rolls on",
  "url": "https://urgent.news/2026/09/21/nvidia-qia-backed-iambic-therapeutics-files-for-us-ipo-as-biotech",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T21:48:55.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/nvidia-qiabacked-iambic-therapeutics-files-for-us-ipo-as-biotech-boom-rolls-on-4909708"
  },
  "original_language": "en",
  "account": "On Monday, Iambic Therapeutics, a drug developer supported by technology giant Nvidia and Qatar's sovereign wealth fund, announced its intention to file for a US initial public offering (IPO). This move adds to a busy list of biotech companies planning to go public this fall, despite economic uncertainties such as the Iran war, AI disruptions, rising bond yields, and interest rate hikes.\n\nAnalysts assert that biotech listings have proven resilient to these pressures, with issuance in the sector supported by a surge of acquisitions by major pharmaceutical companies. Other biotech companies, Retension Pharmaceuticals and TRex Bio, have also filed for US IPOs on Friday, while ADARx Pharmaceuticals launched its roadshow earlier on Monday.\n\nAmong the year's top-performing IPOs with a deal size of over $50 million, all five are biotech companies, driven by advancements in drug development and mergers and acquisitions (M&A), according to Matt Kennedy, a senior strategist at Renaissance Capital. Founded in 2019 as Entos, Iambic Therapeutics utilizes an AI platform to develop drug candidates for treating solid tumors. Its most advanced candidate, IAM1363, is currently in early-stage trials for treating solid tumors like breast cancer.\n\nIambic Therapeutics, headquartered in San Diego, California, plans to sell new shares in the offering. The company has raised approximately $461.8 million from technology and healthcare-focused investors since its inception. In addition to Nvidia and Qatar Investment Authority, major backers include Catalio, Nexus Ventures, and Coatue Management. Underwriters for the IPO include J.P. Morgan, Jefferies, BofA Securities, and Citigroup. The company aims to list on the Nasdaq with the ticker symbol IAM.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}