Pharma BD Deal Intelligence

Tectora Therapeutics / Schrödinger, Inc.

2026 · Licensing/Option · Complete

Schrodinger, Inc. licensed two early-stage small molecule immunology and inflammation programs, SDGR-4594 and SDGR-8139, to Tectora Therapeutics, a new biotechnology company Schrodinger co-founded with New Enterprise Associates and RA Capital Management. In exchange Schrodinger received an equity stake in Tectora and is eligible for future milestones and royalties; specific amounts were not disclosed. Tectora will partner with Schrodinger drug discovery teams and leverage its computational platform at scale to advance both programs to clinical candidates, and concurrently closed a $55 million Series A financing from NEA and RA Capital.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

Key facts

Related deals

See the full interactive analysis, sources & comparables →

← Browse all deals  ·  How we score deals

More: 2026 deals