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- Iambic
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Apr 2024 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2026 | Undisclosed stage | Ireland 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 2025 | Undisclosed stage | Illumina 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 2024 | Series B | Exor Ventures (lead); Mubadala Capital (lead); Tao Capital Partners; Illumina Ventures; Qatar Investment Authority; Abingworth; Alumni Ventures; Coatue; Nexus Venture Partners | $50M | $600M | Iambic 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 2023 | Series B | Abingworth (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 2021 | Series A | Catalio 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2023 | ||
| 2 | Participant | Apr 2024 | ||
| 2 | Participant | Apr 2024 | ||
| 2 | Participant | Apr 2024 | ||
| 2 | Lead | Jul 2021 | ||
| 2 | Participant | Jul 2021 | ||
| 2 | Lead | Apr 2024 | ||
| 2 | Lead | Jul 2021 | ||
| 2 | Participant | Jul 2021 | ||
| 2 | Lead | Oct 2023 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Nov 2025 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialIambic Competitors
Iambic competitors include listed companies like PKSHA Technology and ExaWizards, and private ones like Engram, Pryon, Sema4.ai and Subquadratic.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $600M | - | ||
| Private | - | - | $625M | - | ||
| Publicly listed | $140M | $47M | $627M | 2.4x | ||
| Publicly listed | $77M | $13M | $558M | 5.7x | ||
| Private | - | - | $505M | - | ||
| Private | - | - | $500M | - |
Iambic Public Comps
Iambic is still privately-owned, but its public comps include Allogene Therapeutics, Bright Minds Biosciences, Alkaloid, Hanwang Technology Co, Agomab Therapeutics, Avalon Pharma, Cormedix, Scribe Therapeutics, Unisound Ai Technology and TTY Biopharm.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($197M) | - | 122.7x | (1.7x) | (1.7x) | |||
| - | ($10M) | - | - | (39.2x) | (10.0x) | |||
| $391M | $62M | 1.7x | - | 10.7x | - | |||
| $282M | ($14M) | 2.2x | - | (44.4x) | - | |||
| - | ($74M) | - | 975.9x | (4.2x) | (3.8x) | |||
| $123M | $34M | 5.1x | 4.6x | 18.2x | 18.3x | |||
| $312M | $164M | 1.6x | 1.5x | 3.0x | - | |||
| $51M | ($21M) | 14.2x | - | (34.0x) | - | |||
This data is available for Pro users. Sign up to see all Iambic competitors and their valuation data. Start Free Trial | ||||||||
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. |
See companies similar to Iambic
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