Terray Therapeutics Announces Multi-Target Collaboration with Bristol Myers Squibb

Rhea-AI Summary

Terray Therapeutics (BMY) collaborates with Bristol Myers Squibb to discover and develop small molecule therapeutics against certain disease areas. The collaboration includes upfront payment, milestone payments, and royalties on global net sales of products. Terray will utilize its tNova drug discovery platform to identify small molecule compounds against targets nominated by Bristol Myers Squibb, with Bristol Myers Squibb assuming responsibility for development and commercialization.

Companies to leverage Terray's tNova drug discovery platform to identify small molecule therapeutics against targets of interest. The collaboration includes an upfront payment and performance-based milestone payments, as well as royalties on global net sales of products.  

LOS ANGELES, Dec. 14, 2023 /PRNewswire/ -- Terray Therapeutics, a biotechnology company integrating scale experimentation and generative AI to improve the speed, cost, and success rate of small molecule drug discovery and development, today announced a multi-target collaboration agreement with Bristol Myers Squibb (NYSE: BMY) to discover and develop small molecule therapeutics in certain disease areas.

Under the terms of the agreement, Terray will discover and develop small molecule compounds against a set of targets nominated by Bristol Myers Squibb using the Terray tNova platform, with Bristol Myers Squibb subsequently assuming responsibility for development and commercialization. Terray will receive an upfront payment and is eligible to receive milestone payments associated with the achievement of preclinical, clinical, and sales milestones as well as tiered royalties on net sales of products commercialized by Bristol Myers Squibb in connection with the collaboration.

"We're proud to strategically partner with Bristol Myers Squibb," said Jacob Berlin, Ph.D., Chief Executive Officer, Terray Therapeutics. "This agreement combines the scale, precision, and speed of our platform with the breadth and expertise of our collaborators at Bristol Myers Squibb to find new small molecule therapeutics."

Terray's platform is built for generative AI-driven drug discovery, integrating chemical experimentation and computation. Everything the company does is grounded in an iterative approach, producing massive amounts of precise, purpose-built data that enables generative optimization of small molecules—all in service of finding the right molecules to solve complex problems in drug discovery.

About Terray Therapeutics
Terray is a biotechnology company with the technology, data, and mindset to radically change the way we discover and develop small molecule therapeutics. The company explores molecules and targets with a sophisticated integration of ultra-high throughput experimentation, generative AI, biology, medicinal chemistry, automation, and nanotechnology. Terray's platform uniquely blends experimentation and computation to deliver on the promise of generative AI for small molecule discovery—finding solutions to the toughest therapeutic challenges. To learn more about Terray visit: terraytx.com.

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SOURCE Terray Therapeutics

FAQ

What is the collaboration agreement between Terray Therapeutics and Bristol Myers Squibb?

The collaboration agreement involves the discovery and development of small molecule therapeutics against certain disease areas. Terray will use its tNova drug discovery platform to identify small molecule compounds against targets nominated by Bristol Myers Squibb, with Bristol Myers Squibb taking over the responsibility for development and commercialization.

What payments and royalties are involved in the collaboration agreement?

The collaboration includes an upfront payment and performance-based milestone payments, as well as royalties on global net sales of products.

What is Terray Therapeutics' tNova platform designed for?

Terray's tNova platform is built for generative AI-driven drug discovery, integrating chemical experimentation and computation to optimize small molecules for solving complex problems in drug discovery.