Nvidia-backed Iambic completes US IPO, raising $150 millions

The announcement shows that Iambic Therapeutics, a clinical-stage cancer drug research and technology company backed by NVIDIA (NVDA.US), has completed its initial public offering (IPO) in the United States, raising $150 million, with the issue price set at the midpoint of the indicated range. Iambic issued approximately 9.38 million shares at $16 per share. According to previous filings, the original price range for Iambic's IPO was $15 to $17 per share. Based on the IPO price and the number of shares disclosed in the filings, the company's market capitalization is $758 million. The documents show that Iambic utilizes artificial intelligence and machine learning technologies to develop new therapies. The company will use the funds raised from this IPO to advance three early-stage anti-cancer drug candidates.