PASADENA, Cali., February 15, 2022 – Terray Therapeutics, a biotechnology company propelling drug discovery into the information age, today announced the closing of a $60 million Series A financing to advance its novel tNova platform and deliver therapies to patients faster than ever before. The financing was led by Madrona Venture Group with participation from a broad syndicate of new and existing investors, including Two Sigma Ventures, Digitalis Ventures, KdT Ventures, Goldcrest Capital, XTX Ventures, Sahsen Ventures, Greentrail Capital and Alexandria Venture Investments. This financing follows a previously unannounced $20 million seed round co-led by Digitalis Ventures and Two Sigma Ventures.
“Even the most powerful artificial intelligence can’t get past insufficient or unclear data,” said Jacob Berlin, PhD, Chief Executive Officer of Terray. “Current chemical data lacks the scale and quality to enable AI-driven drug development. We’re building a future where the speed, precision and scale of our engine enable us to predictably create drugs that meet urgent patient needs.”
In today’s emerging frontier of AI-led drug discovery, Terray’s chemistry engine operates at an unrivaled scale, measuring billions of interactions daily and becoming increasingly precise with each cycle of design and experimentation. Chemical datasets generated using Terray’s novel ultra-dense microarray technology work seamlessly with Terray’s integrated machine learning and computational platform to systematically map biochemical interactions between small molecules and causes of disease. Combining these capabilities with unique resynthesis capabilities and broad biology infrastructure, Terray can answer an unprecedented array of questions to accurately navigate vast chemical space and deliver therapeutics for previously inaccessible targets.
“The right chemical data at scale is the only way to fuel a modern drug discovery engine. We’ve seen the impact that scaled data can deliver in other industries, and we are now leveraging that power and promise to deliver more precise therapies to patients faster than ever before,” said Eli Berlin, Chief Financial and Operating Officer of Terray.
Terray brings together a highly skilled, world-class team with deep pharma expertise and experience in AI, synthetic chemistry, biology, automation, and nanotechnology with the bold vision to harness the power of their discovery engine and put transformative therapeutics at our fingertips.
“Madrona is thrilled to support Terray’s mission of revolutionizing drug discovery and accelerating cures to patients,” said Chris Picardo, Partner at Madrona Venture Group. “We are excited by the Company’s world-class team of scientists and machine learning experts and the broad therapeutic potential of the tNova platform to drive solutions to our greatest medical problems.”
“Leveraging more than a decade of research from its founders, Terray has constructed a chemistry platform that systematically integrates high-throughput experimentation and computation at an unprecedented scale,” said Geoffrey W. Smith, Managing Partner of Digitalis Ventures. “This integration sets Terray apart by addressing a key industry pain point, generating clean and relatable data that enables AI-driven models to succeed in the highly complex space of chemical compounds,” added Dusan Perovic, Partner at Two Sigma Ventures.
The financing will be used to advance the Company’s preclinical pipeline of therapeutics and the Company’s discovery partnerships.
About Terray Therapeutics
Terray Therapeutics is an emerging biotechnology company led by pioneers and long-time leaders in AI, synthetic chemistry, automation, and nanotechnology to propel drug discovery into the information age. Terray’s proprietary integrated computational and experimental platforms generate massively scaled, powerfully agnostic chemical data that are purpose-built to power computational learning and reveal new interactions. This foundation is building an iterative, flexible chemistry engine that delivers more precise therapies to patients faster than ever before. Visit terraytx.com to learn more.