Iambic Valuation, Funding & Investors

Iambic is valued at $600M as of April 2024.

Last Iambic valuation

$600M

Series B · Apr 2024

Last Iambic funding round

$20M

Undisclosed stage · Jan 2026

Cumulative funding Iambic raised

$323M

across 5 funding rounds

Key investors in Iambic

  • Abingworth
  • Sequoia Capital
  • Alumni Ventures
  • Coatue
  • Nexus Venture Partners
  • Qatar Investment Authority

Iambic Overview

About Iambic

Iambic is a San Francisco-based therapeutics company employing AI to accelerate drug discovery. Its platform integrates Enchant, a multi-modal transformer for early clinical outcome prediction, and NeuralPLexer for protein-ligand structure forecasting. By embedding physics into AI models, Iambic explores vast chemical spaces to target challenging proteins, optimize therapeutic profiles, and conduct weekly design-make-test cycles through automated labs. The company raised $15 million in seed funding in 2022.


Founded

2019

HQ

United StatesSan Diego, CA

Website

iambic.ai

Status

Privately held

Customer focus

B2B

Revenue model

Licensing, Subscription

Valuation

$600M (Apr 2024)

Iambic Valuation

Iambic is currently valued at $600M, based on its Series B in April 2024.

The $50M round was led by Exor Ventures and Mubadala Capital, with participation from Tao Capital Partners, Illumina Ventures, Qatar Investment Authority, Abingworth, Alumni Ventures and 2 other investors.

Iambic valuation by funding round

Iambic valuation by funding round
DateStageValuation
Apr 2024Series B$600M

Iambic Funding History

Iambic has raised a total of $323M across 5 funding rounds.

Iambic's first fundraising round was a $53M Series A in July 2021. The most recent completed round was a $20M undisclosed-stage round in January 2026.

Iambic funding rounds

Iambic funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2026Undisclosed stageIreland Strategic Investment Fund$20M-The Ireland Strategic Investment Fund invested USD 20 million in Iambic Therapeutics in a transaction ISIF describes as announced in early 2026, extending the oversubscribed financing of more than USD 100 million that Iambic had announced on 10 November 2025. ISIF said the investment supports Iambic's plan to build an engineering and technology presence in Ireland, hiring local engineering and computing talent, which is how the commitment meets the fund's double bottom line mandate of commercial return plus Irish economic activity. The wider financing was raised to advance Iambic's portfolio of AI-discovered therapeutics and its platform technologies, and the company has said the combined capital keeps it funded while it progresses its lead programmes through human testing. Iambic Therapeutics was founded in 2020 and is headquartered in San Diego, where it combines machine learning models with automated chemistry to design small-molecule drug candidates, several of which have entered clinical trials in oncology. Alongside its own pipeline it earns revenue from discovery collaborations with pharmaceutical partners including Takeda, Bayer and Jazz Pharmaceuticals.
Nov 2025Undisclosed stageIllumina Ventures; ARK FUND; Alexandria Venture Investments; Qatar Investment Authority; Freeflow Ventures; Abingworth; Alumni Ventures; Catalio Capital Management; Sequoia Capital; Everbright Biofund; Mubadala Capital; Ascenta Capital$100M-Iambic, a clinical-stage life sciences and technology company based in San Diego and founded in 2020, develops novel medicines using its AI-driven discovery and development platform that integrates AI-generated molecular designs with automated chemical synthesis and experimental execution to complete design-make-test cycles weekly. The platform identifies novel chemical modalities for difficult biological targets, optimizes therapeutic windows, and delivers development candidates across multiple target classes with unprecedented speed to human clinical trials. On November 10, 2025, Iambic announced raising over $100 million in an oversubscribed financing round with balanced support from new and existing investors, including Abingworth, Alexandria Venture Investments, Alumni Ventures, ARK FUND, Ascenta Capital, Catalio Capital Management, Everbright Biofund, Freeflow Ventures, Illumina Ventures, Mubadala Capital, Pegasus Tech Ventures, Qatar Investment Authority, Regeneron Ventures, Sequoia Capital, Tao Capital Partners, Terra Magnum Capital Partners, and others. The funding follows recent milestones, including presentation of promising clinical data for lead candidate IAM1363—a brain-penetrant small molecule inhibitor targeting wildtype HER2 and oncogenic HER2 mutants—at the ESMO Congress, demonstrating anti-tumor activity and favorable safety in HER2-wild-type and HER2-mutated cancers. Iambic also entered a clinical collaboration with Jazz Pharmaceuticals to evaluate IAM1363 in combination with zanidatamab (Ziihera) in HER2-positive breast cancer patients previously treated with trastuzumab deruxtecan (Enhertu). In July 2025, Iambic partnered with Revolution Medicines, providing access to its NeuralPLexer protein structure prediction model and PropANE graph neural network for drug property optimization in exchange for up to $25 million and molecular libraries. Proceeds will advance Iambic's portfolio, including ongoing development of IAM1363 in monotherapy and combination cohorts, and progression of KIF18A (allosteric inhibitor) and CDK2/4 (selective dual inhibitor) programs toward the clinic in the coming year, alongside additional discovery collaborations and platform enhancements. This round builds on prior financings: a $100 million Series B in 2023 and $53 million Series A in 2021. CEO Tom Miller highlighted the investor support as validation of the team's progress in pipeline, partnerships, and platform capabilities.
Apr 2024Series BExor Ventures (lead); Mubadala Capital (lead); Tao Capital Partners; Illumina Ventures; Qatar Investment Authority; Abingworth; Alumni Ventures; Coatue; Nexus Venture Partners$50M$600MIambic Therapeutics is a clinical-stage biotechnology company based in San Diego, developing novel therapeutics using its proprietary AI-driven discovery platform that combines physics-based and machine learning methods for rapid protein-ligand analysis. The platform, named 'Enchant,' predicts clinical outcomes from early-stage data to reduce development costs and was launched on October 29, 2024. On June 18, 2024, the company closed an oversubscribed $50 million extension to its Series B financing, led by new investors Mubadala Capital and Exor Ventures, with participation from Qatar Investment Authority (QIA) and existing investors including Abingworth, Illumina Ventures, Nexus Venture Partners, Coatue, and Tao Capital Partners. This extension brought the total Series B to over $150 million, following an initial $100 million round in October 2023 co-led by Ascenta Capital and Abingworth with participation from NVIDIA and others; overall funding reached approximately $203-233 million. Proceeds from the $50 million extension are designated to broaden Iambic's pipeline of AI-discovered clinical oncology programs, including IAM1363, a highly selective, brain-penetrant small molecule inhibitor of wild-type and oncogenic HER2 mutants currently in a Phase 1/1b study, and a potential first-in-class selective dual CDK2/4 inhibitor aimed at expanding the therapeutic window and addressing treatment resistance in solid tumors such as breast cancer. The company's research was featured on the cover of Nature Machine Intelligence in 2024, highlighting its innovations in AI drug discovery. A 2024 report lists Iambic at a $600 million valuation alongside its $203 million total raised. Iambic positions itself as a leader in AI-powered biotech, emphasizing speed and accuracy in advancing candidates from discovery to human studies. Investors praised its purpose-built approach for machine learning and drug hunting to deliver life-saving medicines.
Oct 2023Series BAbingworth (lead); Ascenta Capital (lead)$100M-Iambic Therapeutics (formerly Entos), a San Diego-based biotechnology company, develops novel therapeutics using its generative AI discovery platform. In approximately March 2023, it closed an oversubscribed $100 million Series B financing co-led by Ascenta Capital and Abingworth, with participation from new investors including NVIDIA, Illumina Ventures, Gradiant Corporation, Shanda, and independent board member Bill Rastetter, alongside existing investors such as Nexus Ventures, Catalio Capital Management, Coatue, FreeFlow, OrbiMed, Sequoia Capital, and Tao Capital. The funds are intended to advance multiple AI-discovered candidates into clinical development, expand the pipeline with best-in-class and first-in-class potential programs, and enhance AI and automation technologies for drug discovery, leveraging NVIDIA's DGX Cloud AI supercomputing and BioNeMo services. New board members added were Evan Rachlin, M.D., from Ascenta Capital, and Kurt von Emster from Abingworth, who praised the platform's originality in exploring novel biological pathways for diseases with unmet needs. A later oversubscribed round over $100 million was announced in November 2025, supported by a broader investor group including Abingworth, Ascenta, and others like Mubadala and Qatar Investment Authority, following clinical data for IAM1363 and a collaboration with Jazz Pharmaceuticals. Iambic has since reported collaborations, such as with Revolution Medicines for NeuralPLexer technology in protein-ligand structure prediction, and benchmarks for its Enchant multimodal transformer model predicting clinical and preclinical endpoints. Ascenta Capital, co-led by ex-Moderna executives Evan Rachlin and Lorence Kim, closed a $325M inaugural fund in 2025 after leading investments including this Iambic round, focusing on phase 1/2 biotechs with diversified pipelines.
Jul 2021Series ACatalio Capital Management (lead); Coatue (lead); FreeFlow; Sequoia Capital; OrbiMed; Nexus Venture Partners$53M-Iambic is a clinical-stage life science and technology company based in San Diego developing novel medicines using an AI-driven discovery and development platform. The company raised $53 million in a Series A financing round in 2021, followed by a $100 million Series B round in 2023 led by Ascenta Capital. In November 2025, Iambic raised over $100 million in an oversubscribed funding round with support from investors including Abingworth, Alexandria Venture Investments, Illumina Ventures, Pegasus Tech Ventures, Qatar Investment Authority, Regeneron Ventures, and Sequoia. The company had achieved a valuation of $549.0 million as of November 10, 2025. Iambic's lead clinical candidate is IAM1363, a brain-penetrant small molecule inhibitor targeting HER2, which demonstrated anti-tumor activity and favorable safety profiles at the European Society for Medical Oncology Congress in 2025. The company also has ongoing development programs for KIF18A and CDK2/4 candidates, with a collaboration with Jazz Pharmaceuticals to evaluate IAM1363 in combination therapy for HER2-positive breast cancer, and a deal with Revolution Medicines providing access to Iambic's NeuralPLexer protein structure prediction platform.

Who has invested in Iambic?

19 investors have backed Iambic across its funding rounds, including Abingworth, Sequoia Capital, Alumni Ventures, Coatue, Nexus Venture Partners and Qatar Investment Authority.

Lead investors include Exor Ventures, Mubadala Capital, Abingworth, Ascenta Capital, Catalio Capital Management and 1 other investor.


Iambic Investors

Investors in Iambic by funding rounds participated
InvestorHQRoundsRoleFirst check
AbingworthUnited KingdomLondon3LeadOct 2023
Illumina VenturesUnited StatesSan Francisco, CA2ParticipantApr 2024
Qatar Investment AuthorityQatarQatar2ParticipantApr 2024
Alumni VenturesUnited StatesUnited States2ParticipantApr 2024
Catalio Capital ManagementUnited StatesNew York City, NY2LeadJul 2021
Sequoia CapitalUnited StatesSan Francisco, CA2ParticipantJul 2021
Mubadala CapitalUAEAbu Dhabi2LeadApr 2024
CoatueUnited StatesNew York City, NY2LeadJul 2021
Nexus Venture PartnersUnited StatesSan Francisco, CA2ParticipantJul 2021
Ascenta CapitalUnited StatesNew York City, NY2LeadOct 2023
Tao Capital PartnersUnited StatesSan Francisco, CA1ParticipantApr 2024
FreeFlowUnited StatesSan Jose, CA1ParticipantJul 2021
ARK FUNDUnited StatesChicago, IL1ParticipantNov 2025

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Iambic Competitors

Iambic competitors include listed companies like PKSHA Technology and ExaWizards, and private ones like Engram, Pryon, Sema4.ai and Subquadratic.

Public and private companies comparable to Iambic
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
EngramUnited StatesSan Francisco, CAPrivate--$600M-
PryonUnited StatesRaleigh, NCPrivate--$625M-
PKSHA TechnologyJapanJapanPublicly listed$140M$47M$627M2.4x
ExaWizardsJapanJapanPublicly listed$77M$13M$558M5.7x
Sema4.aiUnited StatesAtlanta, GAPrivate--$505M-
SubquadraticUnited StatesMiami, FLPrivate--$500M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Allogene Therapeutics-($197M)-122.7x(1.7x)(1.7x)
Bright Minds Biosciences-($10M)--(39.2x)(10.0x)
Alkaloid$391M$62M1.7x-10.7x-
Hanwang Technology Co$282M($14M)2.2x-(44.4x)-
Agomab Therapeutics-($74M)-975.9x(4.2x)(3.8x)
Avalon Pharma$123M$34M5.1x4.6x18.2x18.3x
Cormedix$312M$164M1.6x1.5x3.0x-
Scribe Therapeutics$51M($21M)14.2x-(34.0x)-

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Common questions about Iambic

When was Iambic founded?Iambic was founded in 2019.
Where is Iambic headquartered?Iambic is headquartered in San Diego, CA, United States.
Is Iambic publicly listed?No, Iambic is a private, VC-backed company.
What is Iambic's valuation?Iambic was last valued at $600M in its Series B in April 2024.
How much funding has Iambic raised?Iambic has raised $323M across 5 funding rounds.
What was Iambic's last funding round?Iambic's last funding round was a $20M undisclosed-stage round in January 2026.
Who are Iambic's investors?Iambic's investors include Abingworth, Illumina Ventures, Qatar Investment Authority, Alumni Ventures, Catalio Capital Management, Sequoia Capital, Mubadala Capital, Coatue, Nexus Venture Partners, Ascenta Capital and 9 others.
Which companies are comparable to Iambic?Companies comparable to Iambic include Engram, Pryon, PKSHA Technology, ExaWizards, Sema4.ai and Subquadratic.

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