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Iambic, a clinical-stage life sciences company, announced an oversubscribed $100 million funding round.
Abingworth, Alexandria Venture Investments, Alumni Ventures, ARK, Ascenta, Catalio, Everbright Biofund, Freeflow Ventures, Illumina Ventures, Mubadala, Pegasus Tech Ventures, Qatar Investment Authority, Regeneron Ventures, Sequoia, Tao Capital Partners, Terra Magnum Capital Partners, Wilson Sonsini Goodrich and Rosati participated in the round.
WHAT IT DOES
Iambic integrates physics principles into its AI architectures, creating models aimed at going deeper into the chemical space. Iambic's platforms include Enchant, NeuralPLexar and OrbNet.
Enchant is a state-of-the-art multimodal transformer model that supplements small amounts of clinical data with laboratory data to make predictions of human pharmacokinetics and other clinical drug properties from the earliest stages of discovery programs.
NeuralPLexer predicts the structure of protein-ligand complexes and the conformational changes to these structures from the addition of drug molecules.
OrbNet is an AI-accelerated quantum chemistryGraph neural network architecture based on quantum features.
The company will use the funds to further promote its technology platform.
MARKET SNAPSHOT
The announcement of the oversubscribed round comes in the wake of Iambic’s presentation of clinical data for IAM1363, an investigational drug candidate, at the European Society for Medical Oncology Congress in Germany, where IAM1363 showed anti-tumor activity and a positive safety profile across HER2-wild-type and HER2-mutated cancers, and in multiple disease indications.
In October, Iambic entered into a research collaboration and drug supply agreement with Jazz Pharmaceuticals.
Jazz provided zanidatamab (Ziihera), a HER2-targeted bispecific antibody, at no cost to Iambic for evaluation in tandem with IAM1363, Iambic’s brain-penetrant HER2 small-molecule tyrosine kinase inhibitor.
The combo will be analyzed in patients with HER2-positive breast cancer who have previously been treated with trastuzumab deruxtecan (T-DXd; Enhertu).
In July, Iambic unveiled a technology and research collaboration with Revolution Medicines to pursue novel drug candidates using Iambic's AI models.
Iambic will use structures and molecular libraries provided by Revolution Medicines to train bespoke versions of NeuralLexer.
In return, Revolution Medicines will have access to Iambic's PropANE model, a pre-trained graph neural network deployed across lots of drug properties for lead selection and optimization.
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