Nvidia and QIA-Backed Iambic Therapeutics Files for Nasdaq IPO Under Ticker IAM

Iambic Therapeutics, an AI-driven drug discovery company backed by chip giant Nvidia and the Qatar Investment Authority, filed its S-1 registration statement with the SEC on September 21, 2026, moving to go public on the Nasdaq Global Select Market under the ticker symbol "IAM." The San Diego-based company uses what it calls a proprietary molecular superintelligence platform to accelerate drug development, a process that traditionally takes 10 to 15 years at conventional pharmaceutical companies.

Founded in 2020 as Entos, Inc. before rebranding in May 2023, Iambic is a clinical-stage company with a pipeline that includes treatments targeting HER2-positive breast cancer and other HER2 cancers. It has also formed a research collaboration with Danish pharmaceutical company Lundbeck to develop a small-molecule therapeutic focused on brain health. The company had raised over $220 million in private funding before the IPO filing, including a $100 million-plus oversubscribed round in late 2025, and carried an accumulated deficit of $245.3 million as of June 30, 2026.

Iambic's listing adds to a busy fall window for biotech IPOs, with the offering price range yet to be set in the preliminary prospectus. The company acknowledged it expects to continue posting net losses and will need to raise substantial additional capital to execute its business plan.