A bold investment

Iambic Therapeutics closes $50 million Series B funding round

Iambic Therapeutics, a US-based clinical-stage biotechnology company, has secured $50 million in an extended Series B funding round led by Mubadala Capital, a subsidiary of Mubadala Investment Company based in the UAE.

Other participants in this funding round included Qatar Investment Authority, Exor Ventures, and existing investors such as Abingworth, Illumina Ventures, Nexus Venture Partners, Coatue, and Tao Capital Partners.

This extension follows a previous $100 million Series B round closed in October 2023, as announced by the AI-driven drug discovery platform.

The funding was co-led by Ascenta Capital and Abingworth, with additional participation from NVIDIA and others.

The proceeds from this latest financing will be utilized to advance Iambic’s pipeline of clinical and pre-clinical programs, according to the statement.

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