Pasadena Biotech Terray Raises $60 Million to Speed Up Drug Discovery

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Pasadena Biotech Terray Raises $60 Million to Speed Up Drug Discovery
After three years in stealth mode, a Pasadena biotech startup has emerged with $60 million and, it believes, a new way to create drugs.

Terray Therapeutics launched on Tuesday with $60 million in Series A funding led by Madrona Venture Group. A handful of other venture firms also participated in the round, including Pasadena-based Alexandria Venture Investments. Terray had previously raised an unannounced $20 million seed round led by Digitalis Ventures and Two Sigma Ventures—two firms that also invested in the Series A.

The company specializes in AI-enabled drug discovery—a massive emerging market not only for pharmaceutical giants like AstraZeneca, but also the likes of IBM and Google. The area is promising; AI can cut down the time it takes to create a drug, enabling more rapid innovation and potentially faster turnaround times to get therapeutics to the people who need them. As well as AstraZeneca, major pharma companies like Pfizer and Genentech have also partnered with smaller companies deploying AI-enabled techniques, with the aim of creating successful drugs that are less likely to fail in clinical trials.

Terray Therapeutics’ computational discovery platform analyzes chemical compounds, puts together different combinations, and assesses which compounds are promising for a specific drug candidate. Most importantly, the platform continually reassesses these compounds based on how well they perform.

“Even the most powerful artificial intelligence can’t get past insufficient or unclear data,” Terray CEO Jacob Berlin said in a statement. “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.”

The biotech firm said the new funding will go toward advancing its preclinical pipeline and its partnerships.

https://twitter.com/KeerthiVedantam
keerthi@dot.la

Subscribe to our newsletter to catch every headline.

Cadence

This Week in ‘Raises’: Saviynt Lands $205M, Pagos Secures $34M

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in ‘Raises’: Saviynt Lands $205M, Pagos Secures $34M
This Week in ‘Raises’:

While it was a slow week of funding in Los Angeles, security vendor Saviynt managed to score $205 million that will be used to meet the company’s growing demand for its converged identity platform and accelerate innovation.

Read moreShow less

LA Tech ‘Moves’: Saviynt Gains New CEO, The FIFTH Taps Agency Veteran to Lead Creative Team

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Saviynt Gains New CEO, The FIFTH Taps Agency Veteran to Lead Creative Team
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

***

Read moreShow less

Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Inflation hit cities with tech-heavy workforces hard last year. Tech workers fortunate enough to avoid layoffs still found themselves confronting rising costs with little change in their pay.

Those national trends certainly touched down in Los Angeles, but new data from the Bureau of Labor Statistics (BLS) show that the city of angels was the only major metro area that saw its wage growth grow by nearly 6% while also outpacing the consumer price index, which was around 5%. Basically, LA was the only area where adjusted pay actually came out on a net positive.

So, what does this mean for tech workers in LA County?

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending