What is TYRA?
TYRA Biosciences, Inc. (Nasdaq: TYRA) is a clinical-stage biotechnology firm dedicated to pioneering precision medicines targeting substantial opportunities within FGFR biology. Leveraging its proprietary SNP platform, TYRA excels in the rapid and precise refinement of structural drug design. This innovative approach utilizes iterative molecular SNPshots to predict genetic alterations that may lead to acquired resistance against existing therapies. The company's primary focus is on applying its accelerated small molecule drug discovery engine to create novel therapies for targeted oncology and genetically defined conditions. Based in Carlsbad, CA, TYRA is positioned at the forefront of precision medicine innovation.
How much funding has TYRA raised?
TYRA has raised a total of $528.8M across 4 funding rounds:
Series A
$50M
Series B
$106M
Share Placement
$172.8M
Other Financing Round
$200M
Series A (2020): $50M with participation from Canaan, RA Capital Management, Tavistock Group, Boxer Capital, and Alta Partners
Series B (2021): $106M led by Cormorant Asset Management LP, Logos Technologies LLC, Nextech Invest Ltd, Janus Henderson Group plc, and BVF Partners L.P.
Share Placement (2021): $172.8M, investors not publicly disclosed
Other Financing Round (2024): $200M featuring Nextech Invest, Boxer Capital, 5AM Ventures, OrbiMed, BVF Partners, and RA Capital Management
Key Investors in TYRA
Nextech Invest
Nextech Invest is a Zurich-based company dedicated to accelerating advancements in precision medicine by identifying transformative cancer medicines. They focus on nurturing emerging biotechnology companies worldwide, particularly during critical moments of scientific validation and value creation.
Boxer Capital
Boxer Capital, LLC, is a private investment fund that invests in biotechnology drug development across multiple therapeutic indications. The company has a concentrated portfolio of public and private companies.
5AM Ventures
Five AM Ventures is a life science focused venture capital firm that backs early stage biotech and health care innovators, partnering closely with founders to shape companies, fund rigorous science and help bring new therapies and technologies to patients.
What's next for TYRA?
The substantial enterprise-level funding and recent strategic investment indicate that TYRA is in a significant growth phase, likely moving towards later-stage clinical development and potential commercialization. This capital infusion will be critical for advancing its pipeline, expanding its research and development capabilities, and potentially forging strategic partnerships. The company's focus on FGFR biology and its proprietary SNP platform suggest a strategic direction aimed at addressing unmet needs in oncology and genetic diseases, positioning TYRA for continued advancement in the competitive biotech landscape.
See full TYRA company page
