Schrödinger Co-Founds Tectora Therapeutics With $55 Million Series A

Schrödinger, Inc. on September 9, 2026, announced a licensing and collaboration agreement with Tectora Therapeutics, a new biotechnology company it co-founded with New Enterprise Associates (NEA) and RA Capital Management to develop therapies for immunology and inflammation. Tectora concurrently closed a $55 million Series A investment from NEA and RA Capital.

Transaction Terms and Collaboration

Under the transaction, Schrödinger contributed two early-stage small molecule programs, SDGR-4594 and SDGR-8139, to the new company. In exchange, Schrödinger received an equity stake in Tectora and is eligible to receive future milestone payments and royalties. The announcement did not disclose the size of the equity stake or the potential value of the milestone and royalty payments.

Tectora will partner with Schrödinger’s drug discovery experts and leverage Schrödinger’s computational platform at scale to further advance the two contributed programs to clinical candidates, according to the announcement.

Karen Akinsanya, Ph.D., President, Therapeutics R&D, and Chief Strategy Officer, Partnerships, at Schrödinger, said the company has a track record of creating and enabling programs for licensing to pharmaceutical companies or joining forces with venture funds to build biotechnology companies such as Nimbus, Morphic, Structure and Ajax. Those partnerships “have collectively generated over $750 million in proceeds to Schrödinger,” Akinsanya said. She said Schrödinger co-founded Tectora with NEA and RA Capital to pair its science with the dedicated capital and industry expertise needed to rapidly advance the programs to patients.

J.C. Lopez, Principal at New Enterprise Associates, said the early-stage company builder looks for opportunities where exceptional science is paired with a motivated entrepreneurial team. Lopez said NEA believes the Tectora team, paired with Schrödinger’s internal drug discovery team and computational platform, will be able to successfully advance programs against historically challenging immunology and inflammation targets.

Jenna Hebert, Ph.D., Investment Director at RA Capital Management, said the firm was drawn to the opportunity to leverage Schrödinger’s drug discovery expertise and capabilities to develop therapeutics against high-value, validated targets. “Immunology and inflammation remain areas of immense unmet patient need, and we are excited to co-found Tectora to advance these high-potential programs through preclinical development and into the clinic,” Hebert said.

Company Backgrounds

Tectora Therapeutics is a privately held biotechnology company developing differentiated oral medicines for immune mediated diseases. The company states that it is focused on translating clinically validated biology into convenient oral medicines for patients and that, by partnering with Schrödinger, it leverages advanced computational tools, drug discovery expertise, and preclinical capabilities to advance its initial programs. Tectora said it aims to build a broad pipeline of medicines for patients with significant unmet need.

Schrödinger develops a computational platform for molecular discovery that, according to the company, enables the discovery of novel, highly optimized molecules for drug development and materials design. The company said its software platform is built on more than 30 years of research and development investment and is licensed by biotechnology, pharmaceutical and industrial companies and academic institutions around the world. Schrödinger also uses the platform to advance a portfolio of collaborative and proprietary programs.

New Enterprise Associates is a global venture capital firm founded in 1977 that invests in technology and healthcare companies across multiple stages, sectors and geographies, from seed stage through initial public offering. The firm reported more than $35 billion in assets under management as of December 31, 2025, and said its investing track record includes more than 285 portfolio company public listings and more than 510 mergers and acquisitions.

RA Capital Management, founded in 2004, is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies. The firm creates and funds companies from private seed rounds through public follow-on financings, a model it says allows management teams to drive value creation from inception through commercialization and beyond. RA Capital’s research is guided by TechAtlas, its science-first internal research division, and Raven, its healthcare incubator, offers entrepreneurs and innovators a business-building platform for biomedical innovation. The firm reported more than 250 employees and $16 billion in assets under management as of June 30, 2026.

The announcement notes that statements regarding Schrödinger’s ability to realize potential milestone and royalty payments, the expected benefits of the collaboration, and the initiation, timing, progress and results of Tectora’s initial programs are forward-looking and subject to risks and uncertainties. Schrödinger referenced risk factors detailed in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which it filed with the U.S. Securities and Exchange Commission on August 5, 2026.