Iambic Therapeutics, an AI-powered drug discovery company backed by Nvidia, raised $150 million in a US initial public offering by issuing 9.38 million shares at $16 each. The pricing landed at the midpoint of the indicated range, valuing the company at approximately $758 million. Shares are set to begin trading on Nasdaq under the ticker IAM on October 15. Proceeds from the offering will be used to advance three early-stage cancer drug candidates through development. ARK Invest and Druckenmiller’s family office had previously indicated interest in subscribing for up to $60 million combined in the offering.