On June 18, 2024, Iambic Therapeutics (Iambic), a clinical-stage biotechnology company developing novel therapeutics from its unique generative AI discovery platform, announced the closing of an oversubscribed $50 million extension, bringing the total Series B funding to over $150 million. The Series B extension was led by new investors Mubadala Capital and Exor Ventures, and existing investors Abingworth, Illumina Ventures, Nexus Venture Partners, Coatue, and Tao Capital Partners. Wilson Sonsini Goodrich & Rosati advised Iambic on the transaction.

Proceeds from the latest financing will be used to further Iambic’s pipeline of clinical and pre-clinical programs. Iambic's AI-driven technology has developed two promising drug candidates, IAM1363—a selective inhibitor targeting wild-type and oncogenic HER2 mutants—and a potential first-in-class selective dual CDK2/4 inhibitor designed to combat treatment resistance in solid tumors, both currently under study.

The Wilson Sonsini team that advised Iambic on the transaction includes:

Corporate
Rob Kornegay
Zach Myers
Bridget Balisy

Intellectual Property
Matt Bresnahan
Grant Margulieux
Dalton Case
Dan Gil

National Security
Joshua Gruenspecht

For more information, please see Iambic's news release. Additional coverage can be found on Fierce Biotech.