Terray Therapeutics Valuation, Funding & Investors

Terray Therapeutics is valued at $600M as of October 2024.

Last Terray Therapeutics valuation

$600M

Series B · Oct 2024

Last Terray Therapeutics funding round

$120M

Series B · Oct 2024

Cumulative funding Terray Therapeutics raised

$200M

across 4 funding rounds

Key investors in Terray Therapeutics

  • Digitalis Ventures
  • Two Sigma Ventures
  • Madrona
  • Alexandria Venture Investments
  • KdT Ventures
  • Goldcrest Capital

Terray Therapeutics Overview

About Terray Therapeutics

Terray Therapeutics is a Los Angeles-based biotechnology company, founded in 2018, that uses artificial intelligence and ultra-high-throughput experimentation to accelerate small-molecule drug discovery. Its proprietary platform, tNova, integrates generative AI with experimental data at scale, combining automation, nanotechnology, medicinal chemistry, and biology to improve the speed, cost, and success rate of therapeutic development. The company has built what it describes as the world's largest chemistry dataset, with more than 5 billion target-ligand interactions measured over three years, and has established partnerships with Bristol Myers Squibb and Calico Life Sciences.


Founded

2018

HQ

United StatesLos Angeles, CA

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Valuation

$600M (Oct 2024)

Terray Therapeutics Valuation

Terray Therapeutics is currently valued at $600M, based on its Series B in October 2024.

The $120M round was led by Bedford Ridge Capital and NVentures, with participation from Digitalis Ventures, Alexandria Venture Investments, Maverick Capital, Goldcrest Capital, XTX Ventures and 3 other investors.

Terray Therapeutics' valuation has grown 6.5x from $93M at its seed round in June 2021 to $600M in October 2024, across 2 priced rounds.

Terray Therapeutics valuation by funding round

Terray Therapeutics valuation by funding round
DateStageValuation
Oct 2024Series B$600M
Jun 2021Seed$93M

Terray Therapeutics Funding History

Terray Therapeutics has raised a total of $200M across 4 funding rounds.

Terray Therapeutics' first fundraising round was a $5M seed round in March 2019. The most recent completed round was a $120M Series B in October 2024.

Terray Therapeutics funding rounds

Terray Therapeutics funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2024Series BBedford Ridge Capital (lead); NVentures (lead); Digitalis Ventures; Alexandria Venture Investments; Maverick Capital; Goldcrest Capital; XTX Ventures; What If Ventures; Madrona; Two Sigma Ventures$120M$600MTerray Therapeutics is a Los Angeles-based biotechnology company founded in 2018 that uses artificial intelligence and ultra-high throughput experimentation to accelerate small molecule drug discovery and development. The company's proprietary platform, tNova, integrates generative AI with experimental data at unprecedented scale, combining automation, nanotechnology, medicinal chemistry, and biology to improve the speed, cost, and success rate of therapeutic development. Terray has built the world's largest chemistry dataset with over 5 billion target-ligand interactions measured in the past three years, approximately 50 times larger than all publicly available chemistry research data, with the dataset doubling annually. On October 17, 2024, Terray closed a $120 million Series B funding round at a $600 million post-money valuation. The round was led by new investor Bedford Ridge Capital and existing investor NVentures (NVIDIA's venture capital arm), with participation from Maverick Capital, Goldcrest Capital, Madrona Ventures, Two Sigma Ventures, XTX Ventures, Digitalis Ventures, and Alexandria Ventures. The Series B was exactly double the size of Terray's Series A round, which raised $60 million in early 2022, bringing total equity financing to over $200 million since inception. Terray intends to deploy the capital to advance its internal immunology programs into clinical trials and further develop the tNova platform, which powers both internal and partnered programs. The company has established strategic partnerships with Bristol Myers Squibb and Alphabet subsidiary Calico Life Sciences on multi-target collaborations across various therapeutic areas.
Feb 2022Series AMadrona (lead); Bienville Capital; Digitalis Ventures; Alexandria Venture Investments; KdT Ventures; Goldcrest Capital; Greentrail Capital; Sahsen Ventures; XTX Ventures; Two Sigma Ventures$60M-Terray Therapeutics is a Pasadena, California-based biotechnology company that develops an AI-powered drug discovery platform called tNova, leveraging nanotechnology microarrays with millions of molecules for high-throughput drug-target screening, combined with machine learning to map biochemical interactions and accelerate small molecule therapeutics development. The company emerged from three years in stealth mode, following an unannounced $20 million seed round co-led by Digitalis Ventures and Two Sigma Ventures. On February 15, 2022, Terray Therapeutics announced a $60 million Series A funding round led by Madrona Venture Group, with participation from Two Sigma Ventures, Digitalis Ventures, KdT Ventures, Goldcrest Capital, XTX Ventures, Sahsen Ventures, Greentrail Capital, Alexandria Venture Investments, and others, matching the specified investors. The proceeds are designated to advance the company's preclinical therapeutics pipeline, enhance the tNova platform, and expand discovery partnerships. Terray differentiates through its integrated experimental and computational approach, generating high-quality chemical data at unprecedented scale to power AI models in the complex domain of small molecule drug discovery. The team comprises experts in AI, synthetic chemistry, biology, automation, and nanotechnology, positioning Terray at the intersection of life sciences and computer science. No financial metrics such as post-money valuation, revenue, ARR, EBITDA, or valuation multiples are disclosed in the announcements. The company operates in the competitive AI-enabled drug discovery market alongside players like Insilico Medicine and Recursion, focusing on precise therapies for unmet medical needs.
Jun 2021SeedDigitalis Ventures (lead); Two Sigma Ventures (lead)$15M$93MTerray Therapeutics raised in a Series Seed-1 round on June 30, 2021, led by Digitalis Ventures and Two Sigma Ventures, with $1.39 million in funding at a post-money valuation of $93.37 million. The company develops small molecule therapeutics using a novel spatially encoded screening and optimization platform called tArray to address intractable diseases. Based in Pasadena, California, Terray integrates computation with novel data at scale to improve drug development. This seed round contributed to Terray's early funding, preceding later rounds including a Series A in February 2022 raising nearly $60 million at a $286 million post-money valuation, and a Series B in 2024 raising $120 million at around $386 million valuation. Investors in the 2021 round included key backers that continued participation in subsequent financings. The platform has since supported partnerships with companies like Bristol Myers Squibb, Calico, and Gilead Sciences for novel small molecule discovery.
Mar 2019SeedTwo Sigma (lead); Digitalis Ventures; KdT Ventures$5M-Terray Therapeutics launched as a biotechnology company developing an AI-driven platform for small molecule drug discovery using high-throughput experimentation and computation at scale. The company raised a previously unannounced $20 million seed round co-led by Digitalis Ventures and Two Sigma Ventures around March 2019, prior to its $60 million Series A in February 2022 led by Madrona Venture Group. KdT Ventures participated in the Series A alongside Two Sigma Ventures, Digitalis Ventures, and others. This seed funding supported building the tNova platform to generate premium chemical data, addressing limitations in existing datasets for AI models in drug development. The platform integrates nanotechnology, automation, medicinal chemistry, and generative AI to create the world's largest chemistry dataset with over 5 billion target-ligand interactions. Terray applies this to its internal pipeline targeting immunological diseases and partnerships with Bristol Myers Squibb and Calico.

Who has invested in Terray Therapeutics?

15 investors have backed Terray Therapeutics across its funding rounds, including Digitalis Ventures, Two Sigma Ventures, Madrona, Alexandria Venture Investments, KdT Ventures and Goldcrest Capital.

Lead investors include Bedford Ridge Capital, NVentures, Madrona, Digitalis Ventures, Two Sigma Ventures and 1 other investor.


Terray Therapeutics Investors

Investors in Terray Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
Digitalis VenturesUnited StatesNew York City, NY4LeadMar 2019
Two Sigma VenturesUnited StatesNew York City, NY3LeadJun 2021
Alexandria Venture InvestmentsUnited StatesLos Angeles, CA2ParticipantFeb 2022
KdT VenturesUnited StatesAustin, TX2ParticipantMar 2019
Goldcrest CapitalUnited StatesDallas, TX2ParticipantFeb 2022
XTX VenturesUnited KingdomLondon2ParticipantFeb 2022
MadronaUnited StatesSeattle, WA2LeadFeb 2022
Bienville CapitalUnited StatesNew York City, NY1ParticipantFeb 2022
NVenturesUnited StatesSan Jose, CA1LeadOct 2024
Bedford Ridge CapitalUnited StatesNew York City, NY1LeadOct 2024
Two SigmaUnited StatesNew York City, NY1LeadMar 2019
Maverick CapitalUnited StatesUnited States1ParticipantOct 2024
Greentrail CapitalUnited KingdomLondon1ParticipantFeb 2022

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Terray Therapeutics Competitors

Terray Therapeutics competitors include listed companies like Novartis India and Allogene Therapeutics, and private ones like Alpha Biopharma, Sonoma Biotherapeutics, Huaota Biopharm and Letu.

Public and private companies comparable to Terray Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Alpha BiopharmaChinaGuangzhouPrivate--$595M-
Novartis IndiaIndiaIndiaPublicly listed$37M$10M$536M-
Sonoma BiotherapeuticsUnited StatesSan Francisco, CAPrivate--$732M-
Huaota BiopharmChinaShanghaiPrivate--$440M-
LetuChinaShenzhenPrivate--$1.1B-
Allogene TherapeuticsUnited StatesUnited StatesPublicly listed-($197M)$598M122.7x

Terray Therapeutics Public Comps

Terray Therapeutics is still privately-owned, but its public comps include Allogene Therapeutics, Bright Minds Biosciences, Alkaloid, Agomab Therapeutics, Avalon Pharma, Cormedix, Scribe Therapeutics, TTY Biopharm, Shattuck Labs and CytomX Therapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Allogene Therapeutics-($197M)-122.7x(1.7x)(1.7x)
Bright Minds Biosciences-($10M)--(39.2x)(10.0x)
Alkaloid$391M$62M1.7x-10.7x-
Agomab Therapeutics-($74M)-975.9x(4.2x)(3.8x)
Avalon Pharma$123M$34M5.1x4.6x18.2x18.3x
Cormedix$312M$164M1.6x1.5x3.0x-
Scribe Therapeutics$51M($21M)14.2x-(34.0x)-
TTY Biopharm$203M$72M2.9x2.8x8.3x-

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Common questions about Terray Therapeutics

When was Terray Therapeutics founded?Terray Therapeutics was founded in 2018.
Where is Terray Therapeutics headquartered?Terray Therapeutics is headquartered in Los Angeles, CA, United States.
Is Terray Therapeutics publicly listed?No, Terray Therapeutics is a private, VC-backed company.
What is Terray Therapeutics' valuation?Terray Therapeutics was last valued at $600M in its Series B in October 2024.
How much funding has Terray Therapeutics raised?Terray Therapeutics has raised $200M across 4 funding rounds.
What was Terray Therapeutics' last funding round?Terray Therapeutics' last funding round was a $120M Series B in October 2024, led by Bedford Ridge Capital and NVentures.
Who are Terray Therapeutics' investors?Terray Therapeutics' investors include Digitalis Ventures, Two Sigma Ventures, Alexandria Venture Investments, KdT Ventures, Goldcrest Capital, XTX Ventures, Madrona, Bienville Capital, NVentures, Bedford Ridge Capital and 5 others.
Which companies are comparable to Terray Therapeutics?Companies comparable to Terray Therapeutics include Alpha Biopharma, Novartis India, Sonoma Biotherapeutics, Huaota Biopharm, Letu and Allogene Therapeutics.

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