Terray Partners with Gilead to Revolutionize Drug Discovery
Deal News | Dec 17, 2024 | Digitalis Ventures LLC
Terray, a biotech company leveraging AI for drug discovery, has recently achieved two significant milestones: securing $120 million in a Series B funding round and signing a new research and development agreement with Gilead Sciences. While financial specifics of the deal remain undisclosed, the partnership will allow Gilead to utilize Terray's generative AI platform, tNova, to discover and develop small molecule compounds targeting specific areas of interest. Terray's tNova platform is reputed for analyzing extensive target-ligand interactions and holding a superior data processing capability. This partnership aligns with Gilead's strategy of utilizing cutting-edge AI platforms to enhance drug discovery, amidst challenges in other projects, such as the discontinuation of its anti-CD47 magrolimab development. Terray also partners with other major players, including Bristol Myers Squibb and Calico, an Alphabet subsidiary, underscoring its growing prominence in the biotech sector.
Sectors
- Biotechnology
- Pharmaceuticals
- Artificial Intelligence
- Venture Capital
Geography
- United States – Both Terray and Gilead are based in the U.S., making it the primary geography of the article.
Industry
- Biotechnology – The article centers around Terray, a biotech company specializing in AI-driven drug discovery.
- Pharmaceuticals – Gilead, a major pharmaceutical company, collaborates with Terray for drug development using AI.
- Artificial Intelligence – Terray's AI platform, tNova, plays a pivotal role in its partnership with Gilead, showcasing the intersection of AI and biotech.
- Venture Capital – The article mentions Digitalis Ventures LLC, indicating venture capital involvement in biotech funding.
Financials
- $120 million – Terray's Series B funding round that was raised recently.
- $60 million – A previous funding round raised by Terray in 2022.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Terray | Target Company | Company | A biotech firm specializing in AI-powered drug discovery. |
| Gilead Sciences | Partnering Company | Company | A pharmaceutical company collaborating with Terray on drug discovery. |
| Digitalis Ventures LLC | Private Equity Firm | Company | A venture capital firm backing Terray's Series B funding. |
| Bristol Myers Squibb | Collaborating Company | Company | Another major pharmaceutical company working with Terray. |
| Calico | Collaborating Company | Company | An Alphabet subsidiary also collaborating with Terray. |