Iambic Therapeutics announced an oversubscribed $50 million extension to its Series B funding, led by Mubadala Capital and Exor Ventures. The company uses its AI-driven drug development platform to accelerate the creation of high-quality, differentiated therapies. The platform integrates AI technology and automated experiments, providing new biological insights weekly and significantly shortening the drug development cycle.
EqualOcean reports that in mid-June, Iambic Therapeutics announced the completion of an oversubscribed $50 million Series B+ financing round. This round was led by new investors Mubadala Capital and Exor Ventures, with participation from the Qatar Investment Authority (QIA) and existing investors Abingworth, Illumina Ventures, Nexus Venture Partners, Coatue, and Tao Capital Partners. This extension follows the oversubscribed Series B round in October 2023, bringing the total Series B funding to over $150 million. The funds will be used to further advance the company's AI-driven drug development platform.
Founded in 2019 and headquartered in San Diego, California, Iambic Therapeutics (formerly known as Entos) leverages its unique AI-driven drug development platform to support innovative drug discovery. The company boasts a team of AI experts and seasoned drug development professionals, including Frances H. Arnold, a Nobel Laureate in Chemistry for her work on directed evolution. Iambic’s platform accelerates the development of high-quality, differentiated therapeutics across various target categories and mechanisms of action, bringing them to the clinical stage faster than the industry average.
Iambic employs its AI models for protein structure prediction and holistic drug design to identify and build a pipeline of candidate drugs. These technologies are integrated into a closed-loop, automated, high-throughput biological and chemical experimentation platform. This platform delivers new biological insights weekly from thousands of molecular designs, directly informing the AI models.
The AI-driven platform at Iambic Therapeutics addresses challenging design problems in drug discovery by integrating the latest AI technology and proprietary tools, incorporating physical principles into its AI architecture. This enhances data efficiency and allows molecular models to explore a broad chemical space. The platform's algorithms can identify new chemical mechanisms, discover clear product profiles that optimize therapeutic windows, and explore chemical space to find highly differentiated drug candidates. By tightly integrating AI-generated molecular design with automated experimental execution, Iambic reduces the design-build-test cycle from new molecule design to new biological data to within a week, significantly accelerating the drug discovery and development process.