Terray Therapeutics Secures $120M Oversubscribed Series B to Advance Generative AI-Driven Small Molecule Pipeline into Clinical Trials

Oct 18, 2024 17:11 CST Updated 17:11

Terray Therapeutics

AI Drug Discovery Developer

October 17,Terray TherapeuticsAnnounced the completion of a $120 million Series B financing round, which was oversubscribed. This funding will advance its internal pipeline, developed using generative AI, into clinical trials, and further enhance Terray Therapeutics' integrated AI platform, tNova, to support both internal and collaborative research and development projects.

This round of financing was led by new investorsBedford Ridge CapitalAnd existing investorsNVentures(NVIDIA's venture capital arm) led the investment,Maverick Capital、Goldcrest CapitalParticipated by institutions such as...

Since its founding in 2018, Terray Therapeutics has been committed to accelerating the speed and success rate of small molecule drug discovery and development through large-scale experiments and generative AI. Relying on its proprietary experimental platform, Terray has built one of the largest chemical datasets globally. Currently, Terray has quantitatively measured over 5 billion target-ligand interactions, and this dataset continues to double annually.

Terray's data advantage endows it with potential best-in-class AI capabilities, enabling the identification and optimization of novel small molecules to address complex problems. Terray applies this expertise to its internal pipeline focused on immunological diseases, while also advancing research on more challenging targets through collaborations with BMS and Calico.

Coincidentally, in November last year, Terray Therapeutics completed an equity investment led by NVIDIA (the specific amount was not disclosed).

NVIDIA's presence spans across various industries. In the healthcare industry, NVIDIA is leveraging accelerated computing to power healthcare solutions, covering areas such as drug discovery, genomics, medical devices, and smart hospitals.

NVIDIA's investment arm, NVentures, invested in at least 9 AI pharmaceutical companies in 2023 (Recommended reading:"NVIDIA, the 'Water Seller,' Enters the AI Pharmaceutical Industry, Investing in These 9 Companies in 2023..."), and continued to invest in 2024, successively investing in multiple AI pharmaceutical companies.

Representative Investment Events of NVIDIA in the AI Pharmaceutical Field in 2024

Besides NVIDIA, the AI pharmaceuticals field has also attracted investments from countless giants both in China and abroad. In the past two years, Moderna has collaborated with IBM, utilizing generative AI and quantum computing technologies to advance mRNA technology; Google has successively launched AI models, tools, and cloud services to accelerate drug development; Alibaba has partnered with Zhejiang University and multiple academic institutions to establish the Ali Health Pharmaceutical Lab, which focuses on areas such as drug screening and new drug development, with AI technology at its core. We look forward to a revolutionary breakthrough in drug development through the collaboration of the tech and pharmaceutical industries.

References:

https://www.businesswire.com/news/home/20241017147331/en/Terray-Therapeutics-Closes-Oversubscribed-120M-Series-B-to-Advance-Its-Generative-AI-Pipeline-of-Small-Molecule-Therapeutics-to-the-Clinic

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