Iambic raises over $100M to take AI-designed cancer drugs further into trials
San Diego-based Iambic raised more than $100 million from investors including Sequoia, Regeneron Ventures, Illumina Ventures and Mubadala. Its lead drug, IAM1363, is a HER2 inhibitor designed with the company's AI platform. At ESMO in October 2025, Iambic reported early phase 1/1b activity in heavily pretreated patients with HER2 alterations. The money will fund IAM1363, a planned combination study with Jazz's zanidatamab in HER2-positive breast cancer, and two more cancer candidates headed for the clinic.
Why it's notable: It is one of the few AI drug discovery companies with human data behind its lead drug, so it is a real test of whether AI-designed molecules do better in patients.