Pharma BD Deal Intelligence
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Full analysis, sources & comparables →Pfizer has inked a strategic collaboration with Triana Biomedicines to discover molecular glue degraders against multiple targets, the companies announced…
Pfizer's $1.5bn biobucks collaboration with Triana Biomedicines for molecular glue degraders is a modest-sized but strategically important platform bet as the…
TRIANA Biomedicines announced an oversubscribed $120M Series B financing co-led by Ascenta Capital and Bessemer Venture Partners, with new investors YK…
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TRIANA Biomedicines and Pfizer announced a strategic collaboration and licensing agreement on October 15, 2024 to discover molecular glue degraders against multiple targets across oncology and other disease areas. TRIANA received $49M upfront and is eligible for milestones exceeding $1.5B plus tiered royalties; Pfizer holds an exclusive option to license individual molecules for further preclinical and clinical development, preserving optionality rather than committing large upfront capital. The discovery/option structure has no separate closing event and remains active. Since announcement the relationship has strengthened: in December 2025 Pfizer and TRIANA were named recipients of Scrip's 2025 Best Partnership Alliance Award, and on December 3, 2025 TRIANA closed an oversubscribed $120M Series B (co-led by Ascenta Capital and Bessemer Venture Partners, with Regeneron Ventures, Invus, YK Bioventures and Finchley Healthcare Ventures joining existing investors RA Capital Management, Atlas Venture, Lightspeed Venture Partners, Pfizer Ventures and Surveyor Capital). Proceeds advance TRIANA's wholly-owned lead candidate TRI-611, an ALK-targeted molecular glue degrader, toward clinical proof of concept in ALK+ non-small cell lung cancer, with a second product candidate selection planned for 2026.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Pfizer Inc. / Triana Biomedicines Inc. (this deal) | 2024 | $1.5B | — |
| Pfizer Inc. / BioNTech SE | 2020 | $748M | 100 |
| Pfizer Inc. / FoldRx Pharmaceuticals | 2010 | — | 99 |
| Pfizer Inc. / Medivation Inc. | 2016 | $14.0B | 86 |
| Pfizer Inc. / Wyeth | 2009 | $68.0B | 86 |
| Pfizer Inc. / Warner-Lambert Company | 2000 | $90.0B | 83 |
| Pfizer Inc. / Arvinas, Inc. | 2021 | $2.4B | 77 |
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