Nvidia, QIA-backed Iambic Therapeutics files for US IPO as biotech boom rolls on

FILE PHOTO: The Nasdaq logo is displayed on a screen at the Nasdaq Market site in New York City, U.S., April 17, 2026. REUTERS/Brendan McDermid/File Photo

Sept 21 (Reuters) - Drug developer Iambic ⁠Therapeutics, backed by chip giant Nvidia and Qatar's sovereign wealth fund, ⁠filed for a US initial public offering on Monday, bolstering a ‌busy slate of biotech listings in the fall window.

While the fall IPO window has gotten off to a rocky start amid uncertainty surrounding the Iran war, AI-led disruptions, rising bond yields and ​interest rate hikes, analysts say biotech listings have ⁠remained relatively insulated from such ⁠pressures.

Issuance from the sector this year has been supported by a wave of acquisitions ⁠by ‌large drugmakers.

Drug developers Retension Pharmaceuticals and TRex Bio also filed for US IPOs on Friday, while ADARx Pharmaceuticals launched its roadshow earlier ⁠on Monday.

"All five of the year's best-performing IPOs ($50 million ​deal size and above) ‌are biotechs. Much of that is being driven by drug advancement and ⁠M&A," said Matt ​Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs.

Founded in 2019 as Entos, Iambic is advancing a pipeline of drug candidates developed using its ⁠AI platform to treat solid tumors.

Its most advanced ​candidate, IAM1363, is being developed in an early-stage trial to treat solid tumors such as breast cancer.

Earlier in the day, Iambic and drugmaker AbbVie unveiled a multi-year ⁠collaboration to accelerate AI-driven discovery of small molecule therapies.

The San Diego, California-based company also has partnerships with drugmakers such as Takeda, Lundbeck, Revolution Medicines, Jazz Pharmaceuticals and Bayer.

Iambic, which plans to sell new shares in the offering, has raised ​roughly $461.8 million from technology- and healthcare-focused investors since inception.

Besides ⁠Nvidia and Qatar Investment Authority, Iambic counts investment firms Catalio, Nexus Ventures and ​Coatue Management among its major backers.

J.P. Morgan, Jefferies, ‌BofA Securities and Citigroup are the underwriters ​for the offering. Iambic aims to list on the Nasdaq under the symbol "IAM".

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)

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资料照片：2026年4月17日，美国纽约市纳斯达克市场网站上显示纳斯达克标志。路透社/布伦丹·麦克德米德/资料照片

9 月 21 日（路透社）——由芯片巨头英伟达和卡塔尔主权财富基金支持的药物开发商 Iambic Therapeutics 周一向美国提交了首次公开募股申请，这进一步推动了秋季生物技术公司上市的繁忙局面。

尽管受伊朗战争、人工智能带来的颠覆性变革、债券收益率上升和利率上调等不确定因素的影响，秋季IPO窗口的开局并不顺利，但分析师表示，生物技术公司的上市相对而言并未受到此类压力的影响。

今年该行业的发行量得益于大型制药公司的一系列收购。

药物研发公司 Retension Pharmaceuticals 和 TRex Bio 也于周五提交了美国 IPO 申请，而 ADARx Pharmaceuticals 则于周一早些时候启动了路演。

“今年表现最好的五家IPO公司（交易规模5000万美元及以上）都是生物科技公司。这很大程度上是由药物研发和并购推动的，”专注于IPO研究和ETF的Renaissance Capital高级策略师Matt Kennedy表示。

Iambic 公司成立于 2019 年，前身为 Entos，目前正在推进利用其人工智能平台开发的一系列用于治疗实体瘤的候选药物的研发。

其最先进的候选药物 IAM1363 正在进行早期试验，用于治疗乳腺癌等实体瘤。

当天早些时候，Iambic 和制药公司艾伯维宣布了一项多年合作计划，旨在加速人工智能驱动的小分子疗法发现。

这家总部位于加州圣地亚哥的公司还与武田制药、灵北制药、Revolution Medicines、Jazz Pharmaceuticals 和拜耳等制药公司建立了合作关系。

Iambic计划在此次发行中出售新股，自成立以来已从专注于科技和医疗保健领域的投资者那里筹集了约4.618亿美元。

除了英伟达和卡塔尔投资局之外，Iambic 的主要支持者还包括 Catalio、Nexus Ventures 和 Coatue Management 等投资公司。

摩根大通、杰富瑞、美国银行证券和花旗集团是此次发行的承销商。Iambic计划在纳斯达克上市，股票代码为“IAM”。

（Arasu Kannagi Basil 班加罗尔报道；Shilpi Majumdar 编辑）

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