October 17, Los Angeles – Terray Therapeutics, a biotechnology company transforming the speed, cost, and success rate of small molecule drug development through large-scale computation integrated with novel data to improve human health, announced the completion of a $120 million Series B financing. This brings the total equity financing since inception to over $200 million (including a $20 million seed round and a $60 million Series A round). The funding will advance internal programs into clinical trials and further enhance Terray’s integrated AI platform, tNova, which powers both internal and collaborative projects.This round of financing was led by new investor Bedford Ridge Capital and existing investor NVentures (NVIDIA's venture capital arm), with participation from new and existing investors including Maverick Capital, Goldcrest Capital, Madrona Ventures, Two Sigma Ventures, XTX Ventures, Digitalis Ventures, and Alexandria Ventures.
Jacob Berlin, Ph.D., Co-founder and CEO of Terray Therapeutics, said:"We are thrilled that this funding will help us bring new medicines to patients in need. This is why we all work at Terray. In the 'omics' era, knowledge about the causes of human diseases has exploded, but the ability to discover and develop new molecules to treat these diseases has not kept pace. Terray's AI, trained with rapid iteration and precise data at an unprecedented scale in our lab, will significantly increase the success rate of small molecule development and bring relief to patients."
With its proprietary experimental platform, Terray Therapeutics has built the world's largest chemical dataset, quantitatively measuring over 5 billion target-ligand interactions in the past three years—approximately 50 times all publicly available chemical data. This dataset doubles in size each year. Terray’s unique data advantage enables top-tier AI capabilities to identify and optimize novel small-molecule solutions for the most complex problems. Terray applies this expertise to its internal pipeline focused on immunological diseases and collaborates with Bristol-Myers Squibb and Calico to address other challenging targets.Kimberly Powell, Vice President of Healthcare at NVIDIA, stated:"Terralnd's unique high-quality data generation technology enables continuous advanced generative AI development, as exemplified by their COATI model. The combination of rapid experimentation and advanced AI creates a molecular discovery and design flywheel capable of tackling the most challenging and previously undiscovered targets."Since its Series A financing in 2021, Terray Therapeutics has solidified its position as a leader in generative AI-driven small molecule drug design.Notable milestones include:Rapidly advancing multiple internal immunology programs into the clinic, all of which leverage AI-driven optimization of chemical starting points.Signed multi-target collaboration agreements with Calico and Bristol-Myers Squibb to address challenging targets across a range of diseases.Released the industry-leading chemical foundation model COATI, which recently introduced latent diffusion machine learning to small molecule design for the first time. These AI tools are used daily by Terray Therapeutics' medicinal chemists to explore vast chemical space with maximum efficiency.By expanding the leadership team with key members, including Feroze (Fez) Ujjainwalla as Chief Business Officer and Anna Goranson as Chief People Officer, as well as appointing John Maraganore, founding CEO of Alnylam and a veteran biotech industry leader, as Strategic Advisor and Board Member, and appointing Bassil Dahiyat, founding CEO of Xencor, and biotech leader Sudha Parasuraman as Board Members.Follow the official account below to see the world!
