San Diego-based Iambic Therapeutics, an AI-driven oncology drug discovery company that has assembled a roster of Big Pharma partnerships worth up to USD 1.7 billion in potential milestones, filed an S-1 with the SEC on September 21, 2026, setting the stage for a Nasdaq IPO. Share count and price range had not been disclosed as of the filing date.
The filing states that the primary use of proceeds will be advancing IAM1363, an oral brain-penetrant HER2 tyrosine kinase inhibitor (TKI) currently in a Phase I/Ib basket study in patients with advanced HER2-altered solid tumors, with a registrational trial possible as early as 2027. Proceeds will also fund IND submissions for IAM217, a KIF18A allosteric inhibitor targeting ovarian cancer and triple-negative breast cancer, and IAM-C1, a dual CDK2/CDK4 inhibitor aimed at solid tumors including HR+/HER2− breast cancer, both planned for Q4 2026.
Iambic has raised approximately USD 461.8 million since inception, including a USD 53 million Series A, USD 100 million Series B, and an oversubscribed USD 100 million-plus financing in November 2025. The filing is the latest of an active 2026 biotech IPO market, with record-setting listings from Parabilis Medicines and Kailera Therapeutics earlier in the year.
Iambic's platform combines generative AI models — including NeuralPLexer for protein-ligand structure prediction and Enchant for multimodal molecular optimization — with automated high-throughput wet-lab experimentation. The company said in its filing that IAM1363 binds to the inactive DFG-out conformation of the HER2 kinase domain, a Type II binding mode the company said may contribute to selectivity for HER2 over EGFR and broad coverage of HER2 activating mutations.