Terray Aims To Further Develop AI Platform, Move Into Clinic In 2026

The AI-focused biotech closed a $120m series B funding round, bringing the total funding it has raised to $200m, as it aims to have a product candidate in the clinic in 2026.

artificial intelligence
• Source: Shutterstock

Terray Therapeutics is the latest firm to score a significant heap of cash in order to develop an artificial intelligence (AI)-based drug discovery and development platform, and it is armed with what it calls the world’s largest chemistry dataset, along with partnerships with Bristol Myers Squibb Company and Calico Life Sciences.

Key Takeaways
  • Terray Therapeutics closed a $120m series B funding round, led by Bedford Ridge Capital and NVIDIA’s NVentures venture capital arm.

The AI-fueled biotech, based in Monrovia, CA, said 17 October that it had closed a $120m series B financing, which...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Financing

Finance Watch: Karyopharm Cuts Jobs In Cash Crunch; Pacira’s Layoffs Attributed To Efficiency

 
• By 

Restructuring Edition: Karyopharm is reducing its workforce by 20% as it seeks alternatives to extend its cash runway, but Pacira’s production improvements created efficiency that necessitate an 8% layoff in manufacturing. Jasper, Century, Sage, Leap and Prothena also cut jobs.

In Brief: Soleno To Raise $200m To Boost Vykat XR Launch

 
• By 

Soleno Therapeutics will raise about $200m gross proceeds from an offering of 2.35m of its common stock to fund the commercialization of Vykat XR, which became the first drug for Prader-Willi syndrome to gain US approval on March 26.

Investors Back Nuclidium’s Next-Gen Copper-Based Radiopharmaceuticals

 

The Swiss company believes its platform can make radiopharmaceuticals easier to produce and more accessible to patients.

Finance Watch: Two New Venture Capital Funds Provide $600m For Biopharma

 
• By 

Private Company Edition: Catalio raised more than $400m for its fourth health care-focused VC fund, while AN Venture Partners raised $200m for Japan and beyond. In VC financings, among a dearth of mega rounds, Neuron23’s $96.5m series D is the largest round in recent weeks.

More from Digital Technologies

Profit-Sharing AI Model Proposed To Boost Korean Drug R&D

 
• By 

A differentiated profit-sharing model to accelerate the use of AI in drug development using clinical and patient data is being proposed in South Korea, but the idea faces multiple practical challenges

AstraZeneca Taps Into China’s R&D Engine With CSPC Alliance

 

After in-licensing a cardiovascular candidate last year, AstraZeneca has signed a strategic drug discovery alliance, which could generate billions of dollars in payments to the Chinese firm.

Sanofi R&D Head’s Words Of Wisdom For Biotechs

 
• By 

Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’