Schrödinger has launched a new biotechnology company, Tectora, to develop potential treatments for immunology and inflammatory diseases.
The company was co-founded by Schrödinger, New Enterprise Associates (NEA) and RA Capital Management. Tectora has also raised $55 million in a Series A financing led by NEA and RA Capital.
Tectora will focus on advancing two early-stage small molecule drug programs from Schrödinger, known as SDGR-4594 and SDGR-8139. As part of the deal, Schrödinger contributed the programs to Tectora in exchange for an equity stake in the new company, along with eligibility for future development milestones and royalties.
The new company will work closely with Schrödinger’s drug discovery scientists and use its computational drug discovery platform to advance the programs toward clinical candidates.
Tectora is focused on developing medicines for immunology and inflammation, two areas where many patients continue to have limited treatment options. The company aims to use Schrödinger’s technology and drug discovery expertise to develop therapies against targets that have historically been difficult to address.
Karen Akinsanya, Ph.D., President of Therapeutics R&D and Chief Strategy Officer, Partnerships at Schrödinger, said the company has previously worked with investors and pharmaceutical companies to create and develop biotechnology businesses.
According to Schrödinger, its partnerships have generated more than $750 million in proceeds for the company through collaborations involving companies such as Nimbus, Morphic, Structure and Ajax.
Akinsanya said the creation of Tectora brings together Schrödinger’s scientific capabilities with the funding and industry experience of NEA and RA Capital to help move the programs toward patients.
J.C. Lopez, Principal at NEA, said the firm believes Tectora has the scientific and operational capabilities needed to advance programs targeting challenging areas in immunology and inflammation.
RA Capital Investment Director Jenna Hebert, Ph.D., said the firm was attracted to the opportunity to use Schrödinger’s drug discovery expertise to develop therapies against validated targets with significant potential.
Tectora will initially focus on advancing SDGR-4594 and SDGR-8139 through preclinical development and toward clinical testing.
The launch gives Schrödinger another way to develop its early-stage drug programs while providing Tectora with access to established computational drug discovery technology and expertise. For NEA and RA Capital, the investment provides an opportunity to support a new biotechnology company targeting major unmet needs in immunology and inflammation.