TRIANA Biomedicines said on Thursday it had closed an oversubscribed $120 million Series B financing, strengthening its push to bring a new class of molecular glue degraders into the clinic, including its lead candidate, TRI-611, for patients with ALK-positive non-small cell lung cancer (NSCLC).
The round was co-led by new investors (Ascenta Capital) and (Bessemer Venture Partners), with additional participation from newcomers (YK Bioventures), (Regeneron Ventures), (Invus), and (Finchley Healthcare Ventures). Existing backers — including (RA Capital Management) and (Atlas Venture) — also increased their commitments alongside (Lightspeed Venture Partners), (Pfizer Ventures) and (Surveyor Capital).
With the close of the round, Ascenta Capital’s Lorence Kim, M.D., and Bessemer Venture Partners’ Andrew Hedin will join TRIANA Biomedicines’ board of directors.
Funds to Advance TRI-611 Toward Clinical Proof-of-Concept
The company said proceeds will drive the clinical development of TRI-611, an ALK-targeted molecular glue degrader engineered to overcome resistance that often develops with today’s ALK tyrosine kinase inhibitors. The financing will also support selection of TRIANA Biomedicines’ second development candidate in 2026 and ongoing expansion of its molecular glue discovery pipeline.
Although ALK inhibitors have transformed care for ALK-positive NSCLC — a population often diagnosed at younger ages — resistance and tolerability challenges remain common. TRIANA Biomedicines said TRI-611 is built specifically to address these gaps and deliver a more durable therapeutic option.
“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 Biomedicines. “We are pleased to have the strong backing of world-class investors and look forward to the clinical development of TRI-611 for lung cancer patients.”
Andrew Hedin of Bessemer Venture Partners said the firm views molecular glues as “one of the most promising frontiers in targeted protein degradation,” praising TRIANA Biomedicines for building “a leading discovery engine to unlock this next-generation modality.”
Dr. Lorence Kim of Ascenta Capital added: “We are impressed by TRIANA’s platform, with its target-first approach to rational molecular-glue design, and TRI-611’s selective degradation of ALK variants with a compelling pharmacologic profile.”
Editorial Analysis — Why TRIANA’s Platform Stands Out
The surge of interest in molecular glue degraders marks one of the most compelling shifts in drug development since the rise of targeted oncology. What differentiates TRIANA Biomedicines is its target-first, proximity-first rational design strategy, rather than relying on serendipitous glue discovery. This engineered approach significantly increases the probability of developing medicines against notoriously hard-to-drug proteins.
The company’s integration of bespoke chemical libraries, structural biology, and mechanistic biochemical insight positions it to shape the future therapeutic landscape far beyond ALK-driven lung cancers. In an industry where precision and validation are everything, TRIANA Biomedicines is demonstrating the operational maturity and scientific discipline typically seen in much later-stage companies.
Moreover, the investor roster reads like a who’s who of high-conviction biotech capital — a signal that TRIANA Biomedicines is viewed not simply as a promising platform company but as a potential category-defining force in targeted protein degradation. The rapid progression toward clinical evaluation suggests a disciplined execution track record, which is often the strongest predictor of success in emerging therapeutic modalities.
If TRI-611 demonstrates clear proof-of-mechanism and clinical benefit, TRIANA Biomedicines could quickly become one of the most influential players in the molecular glue space, pushing the industry closer to the next paradigm shift in small-molecule therapeutics.
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