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.

More from Financing

Japan T-Reg Venture RegCell Raises New Funds, Relocates To US

 
• By 

Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.

Major Cash Injection Advances Augustine’s HDAC6 Hopes

 
• By 

The Belgian firm banks nearly €77.7m to push its Charcot-Marie-Tooth to proof-of-concept.

Korea Needs To Think Bigger On M&As: KHIDI

 

A new report from a domestic institute on South Korea’s biopharma M&A trends shows a pickup in activity, but that this remains relatively weak and small-scale. It calls for broader domestic government support to build expertise, drive innovation and globalization.

Finance Watch: Cargo Restructuring Not The News The IPO Market Needs

 
• By 

Public Company Edition: Cargo suspended development and cut 90% of its workforce to focus on strategic alternatives, while Pyxis and Kiromic laid off or furloughed employees. Also, Pfizer sold its remaining Haleon shares for $3.3bn, Galderma sold $1bn in bonds and other financings.

More from Digital Technologies

India Pharma Chiefs On Future Manufacturing Networks And Specter Of Tariffs

 

CEOs of top Indian firms discuss how policies and geopolitics could shape future manufacturing networks and also the simmering issue of tariffs. US President Donald Trump has just reiterated plans for reciprocal tariffs at a joint session of Congress.

Scrip Asks... What Does 2025 Hold For Biopharma? Part 6: Therapeutic Area Advances

 

Over 140 biopharma leaders share their views on developments to watch for in key therapeutic areas this year. Advances in multiple scientific fields are opening up new avenues for treatment.

Scrip Asks... What Does 2025 Hold For Biopharma? Part 5: Clinical Trials Trends

 

A revolution is underway. Technology offers the possibility to transform multiple aspects of the traditional gold standard of drug development: the randomized controlled trial. Sharing their insights with Scrip, 30 thought leaders consider how the clinical trial landscape will evolve in 2025.