Triana Biomedicines closed a $120 million Series B round, backed in part by Pfizer Ventures, to advance its lead molecular‑glue degrader into clinical development. The financing will support IND‑enabling studies and early human testing of Triana’s degrader platform targeting previously intractable oncology drivers. Triana’s approach leverages small molecules that induce proximity between a target protein and an E3 ligase to trigger targeted degradation rather than inhibition. Investors cited the modality’s potential to address challenging intracellular targets and the growing validation of targeted protein degradation across oncology. The capital infusion positions Triana to enter clinic with its lead program and to expand its discovery pipeline as it prepares for first‑in‑human studies.