[NVIDIA-backed AI pharmaceutical company Iambic raises US$150 million through US IPO] On October 15, Iambic Therapeutics Inc., a clinical-stage cancer drug manufacturer and technology company, set the US IPO price at the midpoint of the range and raised US$150 million. The company, whose shareholders include Nvidia, issued about 9.38 million shares at $16 each, according to Wednesday's announcement. Previous filings show that Iambic's previous recommendation range was $15-$17 per share. The San Diego-based company had a market capitalization of $758 million at the IPO price, based on the number of shares outstanding in the filing. Documents show that Iambic uses AI and machine learning technology to assist in the discovery of new drugs. The company will use the funds raised from the IPO to advance the development of three early-stage cancer drug candidates.