Triana Biomedicines closed a $120 million Series B backed by Pfizer Ventures and other investors to advance its lead molecular glue degrader toward clinical proof-of-concept. The financing will support IND-enabling work and early clinical testing for targeted intracellular protein degraders designed to induce selective ubiquitination and degradation of oncogenic targets. Triana positions molecular glues as a route to drug historically undruggable proteins; the company said proceeds will expand its pipeline and accelerate first-in-human studies. Investors cited the modality’s emerging clinical validation and large addressable oncology opportunities as rationale for the round. The round highlights sustained investor appetite for targeted protein degradation platforms and signals continued pharma participation in de-risking novel degrader chemistries.