Triana Biomedicines closed a $120 million Series B round led by Pfizer Ventures and other investors to advance its molecular glue degrader pipeline toward clinical proof‑of‑concept. The financing will support IND‑enabling work and early clinical development of the company’s lead degrader. Triana’s approach aims to target previously intractable oncology targets by inducing targeted protein degradation. The raise underscores investor appetite for molecular glue platforms and the strategy of big pharma to incubate novel degrader modalities through venture partnerships.