New investors Mubadala Capital and Exor Ventures spearheaded this oversubscribed round.
The Series B extension also saw participation from Qatar Investment Authority, alongside current stakeholders including Abingworth and Illumina Ventures.
The additional funds add to the previously secured funds of $100m in the initial Series B round in October.
Ascenta Capital and Abingworth jointly led the Series B funding round with contributions from NVIDIA and other investors.
Iambic CEO Thomas Miller said: “We are delighted to build this strong team of investors around the company who share our conviction in the demonstrated power of the Iambic AI-driven technology platform to deliver highly differentiated drugs to the clinic.”
The funding proceeds from the latest investment will be channelled into expanding Iambic’s pipeline of clinical and pre-clinical programmes, which leverage AI for drug discovery.
The assets include IAM1363, currently undergoing a Phase I/Ib study and a dual CDK2/4 inhibitor for overcoming treatment resistance in solid tumours, including breast cancer.
Mubadala Capital partner Ayman AlAbdallah said: “Iambic is a true innovator, both in the demonstrated accuracy and speed of its state-of-the art AI drug discovery models, and its ability to rapidly advance candidates from discovery and into human studies.
“Iambic is a company purpose-built for AI and drug discovery and we are excited to see how their machine learning and drug hunting expertise will help deliver on the promise of AI to bring potential life-saving medicines to patients.”