Triana Biomedicines closed an oversubscribed $120 million Series B to advance its molecular glue degrader pipeline toward clinical proof-of‑concept. The financing included participation from Pfizer Ventures and other investors, reflecting market appetite for targeted protein degradation modalities that can address challenging oncology targets. Triana said the funds will support IND-enabling work and early clinical studies for its lead degrader. The company emphasized the approach’s potential to target previously undruggable proteins by inducing ubiquitylation and proteasomal degradation, and highlighted strategic partnerships and investor confidence as key enablers for rapid translation to the clinic.