Terray Therapeutics

What Terray Therapeutics does

Terray Therapeutics is an AI-native biotechnology company focused on small molecule drug discovery. Its core platform, EMMI (formerly tNova), tightly couples custom wet-lab automation and chemistry/biology hardware with proprietary machine learning models to generate and interpret target-ligand binding data at scale, with the company reporting more than 13 billion target-ligand interactions measured to date. On top of EMMI the company has released named models including TerraBind (a binding affinity model benchmarked against Boltz-2) and COATI, with applications spanning hit identification, lead optimization, and target discovery across immunology, oncology, and metabolic disease.

The company generates revenue primarily through multi-year research collaborations with large pharmaceutical partners, monetizing platform access, milestone payments, and option-to-license economics. Disclosed counterparties include Bristol Myers Squibb (with a first milestone achieved in late 2024/early 2025), Gilead Sciences (multi-year collaboration signed December 2024), Calico, and Odyssey Therapeutics. NVIDIA's venture arm (NVentures) participates as both an investor and infrastructure partner, supporting computational scaling of model training.

Terray is advancing both partnered programs and a wholly owned pipeline toward the clinic, with internal guidance targeting its first development candidate and IND-enabling work by approximately 2027. The company is privately held, has raised approximately $200 million across seed through Series B financings led by investors including Madrona, Bedford Ridge Capital, Two Sigma Ventures, and Digitalis Ventures, and operates a team of 101–250 employees.

Name

Terray Therapeutics

Legal name

Terray Therapeutics, Inc.

Website

https://terraytx.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

Terray Therapeutics is an AI-native biotech that couples proprietary wet-lab automation with machine learning models (EMMI, TerraBind, COATI) to discover small molecule therapeutics, monetizing the platform through multi-year collaborations with large pharma partners such as Bristol Myers Squibb, Gilead, Calico, and Odyssey Therapeutics.

Ownership category

akta.pro rank

Product category

AI-driven drug discovery

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Scientific Research and Development Services (5417)

SIC

Services-Commercial Physical & Biological Research (8731)

akta.pro industry

PRIMARYHLAGAJAO

AI/ML Platforms for Drug Discovery & Experiment Optimization

Healthcare & Life Sciences/Life Science Tools & Services (CRO/CDMO/Lab Services)/Life Science Software & Informatics (LIMS/ELN/Bioinformatics)

SECONDARYHLAIALAA

Drug Discovery (Target ID/Validation & Hit Discovery)

Healthcare & Life Sciences/Pharmaceuticals/Pharmaceutical Research and Development

SECONDARYHLAGAJAE

Cheminformatics & Molecular Modeling / CADD

Healthcare & Life Sciences/Life Science Tools & Services (CRO/CDMO/Lab Services)/Life Science Software & Informatics (LIMS/ELN/Bioinformatics)

Keywords

• AI drug discovery
• Small molecule therapeutics
• Generative AI platform
• Computational biology
• Pharmaceutical research partnerships

Headquarters

HQ city

Pasadena

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Pharmaceutical Research Collaborations: Revenue generated through multi-target research collaborations with pharmaceutical companies where Terray provides AI-driven drug discovery services. These partnerships include upfront payments, milestone payments upon achievement of discovery and development milestones, and potentially royalty payments on future commercialization.
2. Platform Licensing and Development Deals: Strategic partnerships with major biopharma companies including Bristol Myers Squibb and Calico Life Sciences generate revenue through research funding, milestone achievements, and future commercialization royalties on any resulting therapeutics.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Terray Therapeutics operates an AI-native drug discovery platform that combines proprietary hardware, high-throughput chemical experimentation, and generative AI models trained on a 13 billion+ target-ligand binding database to identify and optimize small molecule drug candidates. The company delivers these capabilities through multi-target research collaborations with major pharmaceutical companies, structured around upfront funding, milestone-based research services, and potential royalties on resulting therapeutics. The company is targeting its first clinical candidate by 2027.

Product overview

Terray Therapeutics operates as an AI-native biotech with a platform-plus-models architecture. The core EMMI Platform serves as the primary drug discovery engine, combining proprietary hardware, high-throughput experimentation, and generative AI models to process a 13 billion+ target-ligand binding database. The tNova Platform represents an earlier generation of the company's AI-driven discovery capabilities. Key AI models include TerraBind (for potency prediction) and COATI, which are integrated into these platforms to accelerate small molecule drug development. The company also offers its AI capabilities through strategic partnerships with pharmaceutical companies including Bristol Myers Squibb, Gilead, and Odyssey Therapeutics.

Differentiator

Problem solved

Functional benefit

Brands

• EMMI: AI-native drug discovery platform combining proprietary hardware and AI models for small molecule drug discovery
• tNova
• TerraBind

Products and services

• EMMI Platform
• tNova Platform
• TerraBind (EMMI Predict Model)

Quantifiable outcome

• 26x faster drug potency prediction compared to existing solutions
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

Partnerships

Four partnerships are on record, tiered flagship and major.

• Gilead SciencesflagshipStrategic or Co-development Partner · 17 December 2024Multi-target research collaboration announced December 2024 to discover and develop novel small molecule therapies, leveraging Terray's AI-driven drug discovery capabilities.
• Odyssey TherapeuticsmajorStrategic or Co-development Partner · 28 October 2024Strategic collaboration to jointly discover and develop first-in-class transcription factor therapies, combining Terray's AI platform with Odyssey's immunology expertise.
• Bristol Myers SquibbflagshipStrategic or Co-development PartnerMulti-target collaboration leveraging Terray's EMMI AI platform for drug discovery. Achieved first discovery milestone in December 2024/2025 targeting a novel and difficult-to-drug molecule. BMS responsible for subsequent development and commercialization. Generated 13 billion+ target-ligand interactions.
• Calico Life SciencesmajorStrategic or Co-development PartnerMulti-target drug development partnership utilizing Terray's AI platform for small molecule discovery, announced as part of October 2024 funding activities.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Exscientia: AI-native pharma combining generative AI with automated chemistry for small molecule design. Directly comparable to Terray in AI-first drug discovery, multi-target pharma collaborations (BMS, Sanofi), and pipeline of AI-designed candidates.
• Schrödinger: Physics-based computational chemistry and AI platform for small molecule discovery. Comparable to Terray in AI-driven small molecule design, target-agnostic platform approach, and software/platform licensing business model with pharma customers.
• Atomwise: AI-driven small molecule drug design company using deep learning for hit identification and lead optimization. Directly comparable to Terray in AI-first small molecule discovery, partnership-with-pharma business model, and focus on difficult-to-drug targets.
• Isomorphic Labs: Alphabet-owned AI drug discovery company applying DeepMind's protein structure prediction to small molecule design. Directly comparable to Terray in AI-native small molecule discovery, major pharma partnerships (Eli Lilly, Novartis), and foundation-model-driven platform approach.
• XtalPi: AI + robotics-driven drug discovery company combining computational chemistry with automated experimentation. Directly comparable to Terray in integrating AI with physical experimentation, focus on small molecule discovery, and B2B pharma partnership model.
• Insilico Medicine: AI-driven drug discovery company combining generative chemistry, biology, and clinical development. Directly comparable to Terray in end-to-end AI-native platform, target-agnostic small molecule focus, and progression to clinical-stage assets.
• Insitro: Machine learning-driven drug discovery company integrating high-throughput biology with predictive models. Directly comparable as a data-and-AI-first biotech with strategic pharma partnerships (e.g., Bristol Myers Squibb, Lilly) for therapeutic discovery.
• Recursion Pharmaceuticals: AI-native drug discovery company combining high-throughput wet-lab experimentation with machine learning. Directly comparable to Terray in platform-plus-experimentation approach, target-agnostic small molecule focus, and big-pharma partnership business model.

Emerging players

• BenevolentAI: AI-driven drug discovery company applying knowledge graphs and ML to therapeutic hypothesis generation. Comparable to Terray in AI-native drug discovery philosophy and pharma partnership model, though with more disease-area-specific focus than Terray's target-agnostic platform.
• Iambic Therapeutics: Earlier-stage AI drug discovery company combining physics-based models with foundation models for small molecule design. Comparable to Terray in target-agnostic AI small molecule platform approach, though at earlier stage of partnerships and pipeline maturity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/terray_tx
• LinkedInlinkedin.com/company/terray-therapeutics

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds6 records

Investors17 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Terray Therapeutics