Triana Biomedicines closed an oversubscribed $120 million Series B to advance TRI‑611 and its molecular glue degrader platform toward clinical proof of concept. The financing was led by Ascenta Capital and Bessemer, with participation from strategic investors including Pfizer Ventures and existing backers. Triana plans to push TRI‑611 into the clinic for ALK‑driven non‑small cell lung cancer and select a second candidate in 2026. The round reflects sustained investor interest in targeted protein degradation modalities and provides capital to bridge preclinical optimization to IND‑enabling studies.