Triana Biomedicines closed a $120 million Series B to advance its lead molecular glue degrader toward first-in-human studies. The round included Pfizer Ventures and other new and existing backers and will primarily fund proof-of-concept clinical work for the company’s degrader program. Triana said the financing will support IND-enabling studies and early clinical development aimed at validating its targeted protein degradation modality in oncology. Management framed the raise as de-risking the program through human data and positioning the company to attract partnership or acquisition interest if clinical activity appears.