Iambic files IPO after signing up AbbVie as new partner
Iambic Therapeutics co-founders Fred Manby and Tom Miller.
Iambic Therapeutics, which specialises in applying AI to drug discovery and development, has filed for an IPO on the Nasdaq, shortly after adding AbbVie to its roster of pharma partners and launching the latest version of its Enchant platform.
The San Diego startup is seeking additional funding to help advance its lead in-house drug candidate IAM1363, an oral and brain-penetratingHER2 inhibitor that is in phase 1 testing for HER2-positive breast cancer and other tumours like non-small cell lung cancer (NSCLC).
Iambic's AI platform – based on a closed-loop system that combines AI with automated chemistry and biology lab capabilities – was used to come up with a small-molecule HER2 inhibitor that, unlike other drugs in the class, has a very low tendency to interact with EGFR, which can contribute to toxicity. Iambic is pitching to start a registrational trial for IAM1363 next year.
Along with funding additional trials of that drug, Iambic has earmarked some of the IPO proceeds for two following candidates in preclinical development, namely KIF18A-targeted IAM217 for brea...