Nvidia-backed Iambic Therapeutics targets up to $806 million valuation in US IPO
NVDA•Iambic Therapeutics aims to raise as much as $159.4 million in a US IPO that would value the drugmaker at up to $805.8 million. It plans to sell about 9.38 million shares for $15 to $17 each.
1. IPO pricing range
Iambic Therapeutics is aiming to raise as much as $159.4 million in its US IPO. At the top of its proposed price range, the offering would value the drugmaker at up to $805.8 million, based on outstanding shares in its filing.
2. Drug development plans
Founded in 2019 as Entos, Iambic is advancing drug candidates developed using its AI platform to treat solid tumors. ARK Investment Management and Duquesne Family Office have indicated interest in purchasing $60 million of shares in the offering.
3. Nasdaq listing plans
Iambic aims to trade on the Nasdaq under the ticker IAM after the deal closes. J.P. Morgan, Jefferies, BofA Securities and Citigroup are the lead underwriters.
