- Financing co-led by new investors, Ascenta Capital and Bessemer Venture Partners
- Additional new investors included YK Bioventures, Regeneron Ventures, Invus, and Finchley Healthcare Ventures, along with continued support from existing investors
- Funding will support the advancement of lead asset, TRI-611, an ALK-targeted molecular glue degrader, to clinical proof of concept, for ALK+ NSCLC patients and accelerate maturation of multiple pipeline programs
TRIANA Biomedicines, Inc. (TRIANA), a leading biopharmaceutical company focused on advancing a target-first and proximity-first molecular glue discovery platform to address difficult to drug disease targets, today announced the successful closing of its oversubscribed $120 million Series B financing round.
The Series B financing was co-led by Ascenta Capital and Bessemer Venture Partners. New investors included YK Bioventures, Regeneron Ventures, Invus, and Finchley Healthcare Ventures. TRIANA received continued support from existing founding investors RA Capital Management and Atlas Venture, along with Lightspeed Venture Partners, Pfizer Ventures, and Surveyor Capital (a Citadel company). In association with the Series B financing, Lorence Kim, M.D., from Ascenta Capital, and Andrew Hedin, of Bessemer Venture Partners, will join TRIANA's Board of Directors.
The proceeds from the financing will support development of lead product candidate TRI-611, an anaplastic lymphoma kinase–positive (ALK) targeted molecular glue degrader, to clinical proof of concept in ALK+ non-small cell lung cancer (NSCLC), selection of a second product candidate in 2026, and the advancement of TRIANA’s product pipeline beyond TRI-611.
While advances in ALK tyrosine kinase inhibitor therapies have markedly improved outcomes for patients with ALK+ NSCLC, acquired resistance and tolerability issues remain key challenges in this predominantly younger lung cancer subpopulation. Addressing this need presents a significant opportunity to advance the standard of care and improve the lives of patients living with ALK+ NSCLC.
“Successful closing of our Series B fundraising represents a major milestone in TRIANA's mission to innovate therapies for difficult to treat cancers,” said Dr. Patrick Trojer, President and CEO of TRIANA. “We are pleased to have the strong backing of world-class investors and thank both our new and existing partners for their commitment to advancing our mission. We look forward to the clinical development of TRI-611 for lung cancer patients.”
“We’ve long viewed molecular glues as one of the most promising frontiers in targeted protein degradation,” said Andrew Hedin, Partner at Bessemer Venture Partners. “We’ve followed TRIANA closely as their world-class team has built a leading discovery engine to unlock this next-generation modality and deliver new therapies to patients. Their rapid execution and lead ALK+ non-small cell lung cancer program designed to overcome resistance seen with current treatments reflect the kind of bold, science-driven innovation that can transform patient outcomes.”
“We are impressed by TRIANA’s platform, with its target-first approach to rational molecular-glue design, and TRI-611, that selectively degrades ALK variants with a compelling pharmacologic profile,” said Dr. Lorence Kim, Managing Partner and Co-Founder of Ascenta Capital. “At Ascenta, we are drawn to platforms that unite deep mechanistic insight with clear clinical potential, and we look forward to supporting TRIANA as it grows to support a full clinical development effort to bring medicines closer to patients.”
About TRIANA Biomedicines, Inc.
TRIANA Biomedicines is a private biotechnology company, headquartered in Lexington, Massachusetts and focused on building the leading molecular glue discovery platform to regulate disease targets that are difficult to address with any other modality. TRIANA’s drug discovery engine is powered by bespoke chemical libraries, deep biochemical and biological mechanistic insights in addition to high resolution structural biology. TRIANA’s target-first and proximity-first approach to molecular glue discovery is currently focused on inducing or enhancing the degradation of high-profile cancer targets. The therapeutic approach pioneered by TRIANA has the potential to fundamentally change the paradigm of small molecule drug discovery and bring significant therapeutic benefits to patients.
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“We are pleased to have the strong backing of world-class investors for our Series B and thank both our new & existing partners for their commitment to advancing our mission. We look forward to the clinical development of TRI-611 for lung cancer patients.”