On October 17, 2024, Terray Therapeutics, a Los Angeles-based biotechnology company improving human health by enhancing small molecule drug development, announced that it raised $120 million in Series B funding. The round was led by 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. Wilson Sonsini Goodrich & Rosati advised Terray on the transaction.
The company intends to use the funds to advance internal programs into clinical trials and further enhance its integrated AI platform, tNova, which powers both internal and partnered programs.
Terray is a biotechnology company that aims to change the way small molecule therapeutics are discovered and developed. It explores molecules and targets through a sophisticated integration of ultra-high throughput experimentation, generative AI, biology, medicinal chemistry, automation, and nanotechnology. Its platform blends experimentation and computation to fulfill the promise of generative AI for small molecule discovery, addressing some of the toughest therapeutic challenges. Terray applies this expertise to its internal pipeline focused on immunological diseases and additional targets in partnership with other companies.
The Wilson Sonsini team advising Terray on the transaction includes:
Corporate
Michael Coke
Christina Poulsen
Jacie Valentine
Aleks Vitomirov
Francesca Steiner
Jas Bains
Technology Transactions
Miranda Biven
Nellie Brutocao
For more information, please refer to Terray’s news release and coverage in Fierce Biotech and Endpoints News.