AI-Driven Biotech Iambic Therapeutics Raises $100M to Advance AI-Discovered Drug Pipeline

Iambic Therapeutics, an AI-driven biotech, has closed a $100M oversubscribed Series B financing to advance AI-discovered drugs into the clinic.
The round was co-led by Ascenta Capital and Abingworth. NVIDIA, Illumina Ventures, and others also participated.
Iambic will use the funds to progress multiple candidates into clinical trials, expand its pipeline, and further develop its AI and automation tech.
Iambic's physics-informed AI platform has already yielded 2 promising clinical candidates for cancer.
The company will collaborate with NVIDIA to leverage their computing platforms and accelerate drug discovery.

businesswire.com

Relevant topic timeline:

8/21/2023

A16z-Backed AI Biotech Startup Genesis Therapeutics Raises $200M

California-based startup Genesis Therapeutics has raised $200 million in Series B funding, led by Andreessen Horowitz Bio + Health and an unnamed US-based life-sciences-focused investor, to further develop its AI platform for small-molecule drug discovery and expand its pipeline.

8/21/2023

A16z-Backed AI Biotech Startup Genesis Therapeutics Raises $200M

Main topic: Genesis Therapeutics' $200 million Series B funding round for its AI-powered drug discovery platform in the biotech sector. Key points: 1. Genesis Therapeutics closed a $200 million Series B funding round, led by Andreessen Horowitz Bio + Health and an unnamed U.S.-based life-sciences-focused investor. 2. New investors in the round included Fidelity Management & Research Co., BlackRock, and Nvidia’s venture arm NVentures. 3. Genesis Therapeutics plans to use the funding to evolve into a clinical stage company, invest in its AI platform, and expand its discovery pipeline.

9/7/2023

AI Startup Imbue Raises $200M at $1B Valuation, Bringing Total Funding to $220M

Imbue, an AI research lab, has secured $200 million in Series B funding, with a valuation of $1 billion, to develop AI agents that can code using reasoning as their foundation model. The funding round included participation from Astera Institute, Nvidia, Cruise CEO Kyle Vogt, Notion co-founder Simon Last, and others.

10/26/2023

AI-powered medical scribe startup Abridge raises $30M to take on Nuance, cut doctor notetaking time in half

AI-powered medical scribe startup Abridge has raised $30 million in a Series B funding round, valuing the company at $200 million, to expand its app that generates readable notes from doctor-patient conversations and eases the administrative burden on doctors, putting it in competition with Microsoft-owned Nuance and other AI healthtech companies. The company is also partnering with electronic health records company Epic to integrate its technology directly into Epic's app. Abridge plans to further develop its tools for healthcare professionals and expand to patients as well.

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Posted 10/3/2023, 12:00:00 PM

AI-Driven Biotech Iambic Therapeutics Raises $100M to Advance AI-Discovered Drug Pipeline

Iambic Therapeutics, an AI-driven biotech, has closed a $100M oversubscribed Series B financing to advance AI-discovered drugs into the clinic.
The round was co-led by Ascenta Capital and Abingworth. NVIDIA, Illumina Ventures, and others also participated.
Iambic will use the funds to progress multiple candidates into clinical trials, expand its pipeline, and further develop its AI and automation tech.
Iambic's physics-informed AI platform has already yielded 2 promising clinical candidates for cancer.
The company will collaborate with NVIDIA to leverage their computing platforms and accelerate drug discovery.

businesswire.com

Relevant topic timeline:

8/21/2023

A16z-Backed AI Biotech Startup Genesis Therapeutics Raises $200M

8/21/2023

A16z-Backed AI Biotech Startup Genesis Therapeutics Raises $200M

9/7/2023

AI Startup Imbue Raises $200M at $1B Valuation, Bringing Total Funding to $220M

10/26/2023

AI-powered medical scribe startup Abridge raises $30M to take on Nuance, cut doctor notetaking time in half